The Hindu Business Line : 23-week high offerings at Coonoor tea auctions

Coonoor, April 23 Volume continues to be high at the auctions of the Coonoor Tea Trade Association (CTTA). For Sale No: 17 to take place on Thursday and Friday, a volume of 11.08 lakh kg has been catalogued. This is 23-week high, except last week when the offer was 11.31 lakh kg.

Fresh arrivals totalled 10.04 lakh kg out of the 11.08 lakh kg on offer. The balance comprises teas unsold in the previous auctions.

Arrivals are more because of the recent rains kindling growth in the tea bushes. Volume is expected to be more during the rush season ending next month because of the 24-year high rainfall in March.

Of the 11.87 lakh kg on offer, as much as 7.80 lakh kg belong to leaf grades and 3.28 lakh kg to dust grades. Again, as much as 10.21 lakh kg is of CTC variety and only 0.87 lakh kg orthodox variety.

Low orthodox share

The proportion of orthodox teas continues to be low in both the leaf and dust grades. In the leaf counter, only 0.29 lakh kg is orthodox while 7.51 lakh kg is CTC. Among the dusts, only 0.58 lakh kg belongs to orthodox while 2.70 lakh kg is CTC.

High volume did not affect prices last week as buyers stepped up their purchase of quality teas. With Kenyan tea prices ruling around $2.47 a kg, auctioneers expect better export purchases this week. Together with improved home demand, prices are expected to be firm.

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