The Hindu Business Line : Coonoor tea prices up on low offer

Prices rose Rs 3 a kg on the average at the Sale No: 35 of the Coonoor Tea Trade Association (CTTA) here with the demand fit enough to absorb the low volume on offer at higher levels.

Only 8.6 lakh kg were offered for sale. This was the lowest volume of the last 18 weeks. So, the demand from both the domestic and export buyers was strong enough to cover the quantities for sustaining their respective business.

Quality teas received increased demand at higher bids. Brighter liquoring teas received more enquiries from Maharashtra dealers. Around 15,000 kg of such teas fetched more than Rs 60 a kg.

CTC variety

"The market for the plain and medium CTC leaf teas opened dearer up to Rs 3 a kg, but slackened towards the end. Clean broken orthodox leaf also fetched up to Rs 3 more. The entire range of brighter liquoring CTC dust grades was absorbed for up to Rs 4 a kg more. Some quality invoices fetched even higher premiums. Medium dusts got Rs 2 more. Clean, black, bolder CTC dusts fetched up to Rs 3 a kg more," explained an auctioneer.

Corporate buyers

Among the corporate buyers, Hindustan Lever Ltd showed interest on the good medium sorts. It also bought some liquoring sorts and fannings. JV Gokal, JKF International and Northern Projects were active on broken ranges. Madhu Jayanthi supported clean BOPFs.

Exports

On the export front, Pakistan shippers bought blacker, smaller brokens and fannings paying up to Rs 53 a kg. But, they had paid last week Rs 56. Kenya continued to buy fannings to bridge the gap in its supply-demand equation paying up to Rs 52 a kg. Dealers said that these teas might be re-exported to Pakistan.

The lone buyer for Defence supplies paid up to Rs 47 a kg.

Among the CTC teas from bought-leaf factories, Darmona Estate got the highest price of Rs 84.55 a kg, followed by Highfield Estate Special Rs 81.99, Dhavala Rs 80, Vigneshwar Estate Rs 77.99, Hittakkal Estate Rs 76.99 and Homedale Rs 75.

Among the orthodox teas from the corporate sector, Tiger Hill got the highest price of Rs 117.03 a kg, followed by Curzon Rs 108, Corsely and Kodanaad Rs 107.99, Prammas Rs 107, Glendale Rs 105, Kairabetta Rs 103 and Havukkal Rs 102.

Quotations

Quotations held by the brokers indicated bids ranging from Rs 46 to 47 a kg for the plain leaf grades and from Rs 63 to 70 for the brighter liquoring teas.

The bids ranged from Rs 49 to 50 a kg for the plain dust grades and from Rs 66 to 75 for the brighter liquoring grades.