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P.S. Sundar

Coonoor, Oct. 2

Prices dropped on an average Rs 2 a kg at Sale No: 39 of the Coonoor Tea Trade Association (CTTA) auctions held here recently as the demand was inadequate to absorb the huge volume at higher bids.

The volume of 11.72 lakh kg offered was the highest of the last nine weeks except for Sale No: 32 which took place on August 9 with a volume of 11.8 lakh kg.

Select whole leaf orthodox teas fetched higher prices on quality. Secondary sorts managed to hold on to last week levels. Select grainy CTC dusts got Rs 2 a kg more.

The lowest bid fell to Rs 31 a kg. Substantial volumes were sold for Rs 31 to 33.

Among corporate buyers, Hindustan Unilever Ltd showed interest on good medium sorts. Duncans was active on better medium teas. Girnar and IPL bought orthodox dust grades.

Exporters were selective. Pakistan chose blacker types for around Rs 38 a kg. CIS bought medium and plainer bolder types. Poland showed interest for bolder broken teas.

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