The Hindu Business Line : Low volumes on offer at Coonoor tea auction

Volume catalogued for the Coonoor Tea Trade Association (CTTA) auction this week is marginally lower than last week. About 9.65 lakh kg have been catalogued against 9.69 lakh kg last week. This marks a drop in offer for the third consecutive week.

The volume is nearly 3 lakh kg less than what was offered in the corresponding period last year.

Nearly 6.51 lakh kg belong to the leaf grades and only 3.14 lakh kg are dust grades. Again, as much as 8.85 lakh kg belong to the CTC variety and only 0.8 lakh kg, the orthodox variety.

The proportion of orthodox teas is low in both the leaf and dust categories. Among the leaf grades, only 0.28 lakh kg belong to the orthodox variety, while 6.23 lakh kg are CTC variety. Among the dust grades, only 0.52 lakh kg belong to the orthodox variety, while 2.62 lakh kg are CTC variety.

Prices may rise

Auctioneers said that prices could improve if the demand picked up because the volume offered is low. Last week, prices were flat as the demand stayed low for most invoices.

Among the exporters, Pakistan had restricted its purchases last week. This week too buyers have not confirmed increased orders.

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