The Hindu Business Line : Darmona continues to fetch better prices

Darmona Estate’s RD tea, auctioned by J. Thomas and Co, continued to fetch better prices at the auctions of the Coonoor Tea Trade Association (CTTA) last week. Vinayaka Tea Co bought the RD teas for Rs 120 a kg.

This was the highest price fetched by any CTC tea in Coonoor auctions so far this year. It surpassed the Rs 114 it fetched the previous week.

Homedale Estate came second at Rs 90 (Rs 93). Hittakkal Speciality got Rs 88, Green View Rs 84, Kannavarai Rs 81, Vigneshwar Estate Rs 83, Shanthi Supreme and Garswood Clonal Rs 80.

Corporate sector

Among the orthodox teas from corporate sector, Prammas got the highest price of Rs 122 a kg, followed by Curzon and Corsley at Rs 120, Kairbetta Rs 111, Havukal Rs 108, Kodanaad and Mailoor Rs 104 and Glendale Rs 102.

Exports

On the export front, Pakistan chose blacker medium and plainer teas and some fannings for Rs 38-40 a kg. CIS operated for Rs 35-40. Egypt also spread its bid wide – Rs 33-42.

Corporate buyers

Among the corporate buyers, Hindustan Unilever Ltd bought good medium grades. Duncans was quiet. JV Gokal, Limtex and Girnar, operated on bolder brokens.

Although the volume of 9.57 lakh kg offered was the lowest of 11 weeks, the high bids confined to quality offers only. While these invoices managed to fetch Rs 3 a kg more, the plainer and medium grades could be sold only when the prices shed Rs 3. Consequently, some 30 per cent went unsold.

Sluggish demand

With sluggish demand for the plain grades, the bottom price stuck to Rs 31.

Producers decided to dispose of a good volume for Rs 31-34 to avoid withdrawal.

Quotations held by the brokers indicated bids ranging from Rs 31-34 a kg for plainer dust grades and Rs 65-83 for the brighter liquoring grades.

They ranged Rs 32-35 for the plain leaf grades and Rs 62-69 for the brighter liquoring sorts.