The Hindu Business Line : Coonoor tea prices rise on low offer, good demand

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Coonoor Jan. 21 Prices rose on an average Rs 2 a kilo over the previous week at the third auctions for 2007 conducted by the Coonoor Tea Trade Association (CTTA) here, as the demand was firm enough to absorb the low volume on offer.

A volume of 10.23 lakh kg was offered for sale which was as much as 1.1 lakh kg lower than last week's offer. With the offer in North Indian markets having tapered due to winter closures, upcountry buyers showed keen interest to pick up the available volume at possible prices. This helped the prices to look up for most grades.

A substantial volume was sold for over Rs 65 a kilo, but some resistance was seen when the sellers demanded prices above Rs 75. Darmona Estate fetched the highest price of Rs 96 a kilo among the CTC teas from bought-leaf factories, followed by Vigneshwar Estate at Rs 89, Homedale Estate and Highfield Estate Special Rs 84 and Selva Ganapahty Supreme Rs 83.

Orthodox teas

Among the orthodox teas from corporate sector, Kodanaad fetched the highest price of Rs 140 a kilo, followed by Colacumby Rs 139. Prammas got Rs 130, Curzon Rs 126, Chamraj Rs 123, Corsley Rs 121, Havukal Rs 120, Kairbetta Rs 119, Tiger Hill Rs 118, Glendale Rs 112, Mailoor Rs 109 and Erinkadu Rs 108. On the export front, Pakistan bought well-made clan black fannings paying Rs 47-50 a kilo. CIS shippers selected medium and plainer sorts for around Rs 44.

Hindustan lever Ltd showed interest on better medium grades. Useful purchases were seen from JV Gokal and JFK International.

Flaky orthodox leaf grades, however, suffered discounts of Rs 2-3 a kilo. Many such offers had to be withdrawn for want of bids. Quotations held by the auctioneers indicated bids arranging from Rs 38 to 40 for the plain leaf grades and Rs 62 to 72 for the brighter liquoring grades. For the plain dust grades, the bids ranged Rs 42-45 while for the brighter liquoring grades the binds ranged Rs 65-80.