The Hindu Business Line : Coonoor tea prices rise on demand

Coonoor, April 28 Prices rose Rs 2 a kg on the average at Sale No. 17 of the auctions of Coonoor Tea Trade Association (CTTA) here on Friday despite the volume offered being a 23-week high (barring last week’s offer), as active demand prevailed.

Quality invoices fetched handsome price-increase as buyers went scouting for them. “High-priced CTC leaf grades fetched Rs 2-3 a kg more. Smaller brokens and fannings were dearer by Rs 3. Clean black sorts fetched Rs 5 more. Orthodox whole leaf and primary grades were dearer by Rs 4-6. Brokens and fannings got Rs 5 more. Better medium and medium CTC dusts got Rs 2 more, while their plainer counterparts Rs 3-4 more. Primary orthodox dusts got better demand than in the recent weeks. Clean secondaries sod dearer up to Rs 3. But, some teas falling below buyers’ quality expectations suffered withdrawals”, an auctioneer told Business Line.

Among the corporate buyers, Hindustan Unilever Ltd lent useful support for good medium leaf grades. It did not operate in the dust market.

On the export front, Pakistan was forceful on blacker sorts. It also picked up some well-made fannings to cover short supplies. Egypt shippers bought smaller brokens and fannings. CIS and Poland continued to be selective.

Among the CTC teas from bought-leaf factories, no brand crossed the Rs 100-mark this week. Darmona Estate got the highest bid of Rs 99 for its RD grade. Homedale Estate got Rs 92, Selva Ganapathy Supreme Rs 90, Hittakkal Estate Rs 88, Deepika Supreme Rs 86, Green View Estate, Kannavarai Estate, Shanthi Supreme, Professor, Vigneshwar Estate and Highfield Estate Special Rs 84, Ella Estate Rs 83, Sree Ram supreme Rs 82, Garswood Estate and Kotagiri Estate Rs 80.

Among the orthodox teas from corporate sector, Curzon got Rs 123, Chamraj Rs 118, Colacumby Rs 112, Tiger Hill, Prammas and Kairbetta, Rs 105, Kodanaad, Corsley, Glendale, Sutton and Thaishola Rs 100.

Quotations held by the brokers indicated bids ranging from Rs 45-47 a kg for plain leaf grades and Rs 65-84 for the brighter liquoring sorts. They ranged Rs 49-53 a kg for plain dust grades and Rs 65-82 for brighter liquoring sorts.