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

Prices rose on an average Rs 3 a kg at Sale No: 46 of the auctions of the Coonoor Tea Trade Association (CTTA) here as the demand was adequate to absorb the low volume on offer. The bottom line rose to Rs 32 a kg from Rs 30.

The volume of 10.43 lakh kg on offer was the lowest of the last 10 weeks.

“Whole leaf orthodox leaf grades got Rs 3-5 a kg more. High priced CTC leaf grades got Rs 2 more. Smaller brokens and fannings sold dearer by Rs 3. CTC dust grades were generally dearer by Rs 3. Many quality invoices fetched still higher premium. Even the medium and plainer grades got Rs 2-3 more. The demand for these grades was strong after so many weeks”, an auctioneers told Business Line.

Corporate buyers

Among the corporate buyers, Hindustan Unilever Ltd lent useful support for god medium sorts. JV Gokal competed for whole leaf and well made brokens in orthodox leaf category.

On the export front, CIS was fairly active on the bolder brokens paying up to Rs 38 a kg. Egypt showed interest on the smaller brokens and fannings paying up to Rs 40. Poland was, however, very selective.

Arising from the uncertainties in the political and trade situations in Pakistan, the purchases were limited. Some exporters chose clean black sorts.

Among the CTC teas from bought-leaf factories, after a gap of few weeks, Darmona Estate, sold by J. Thomas and Co, once again rose in the Rs 100-plus category this week. Its highest price was Rs 110 for its RD grade. Homedale Estate, sold by Global Tea Brokers, got Rs 95, its second highest in 2007. The highest was Rs 96 in February. Vigneshwar estate got Rs 83 and Highfield Estate Special got Rs 81.