The Hindu Business Line : 18-month high offers at Coonoor tea auctions

Coonoor, May 7 An analysis of the catalogues of the brokers indicates that a volume of 12.97 lakh kgs would be offered for Sale No: 19 of the auctions of Coonoor Tea Trade Association (CTTA) here on Thursday. This is the highest volume of more than one and a half years. At none of the 52 auctions held in 2007, the offer totalled this much. The highest was 12.93 lakh kgs offered on October 18, 2006.

The volume is as much as 1.1 lakh kgs more than last week’s offer.

Totally, 12.26 lakh kgs of the 12.97 lakh kgs are fresh arrivals. The balance comprises teas remaining unsold in previous auctions. Fresh arrivals are more because of the “rush” May seasonal crop. Growers said that the 24-year high rainfall of March has kindled the growth in tea bushes. According to UPASI Tea Research Foundation, Nilgiris production has increased by 33.9 per cent in the first four months of 2008 over 2007.

Of the 12.97 lakh kgs on offer, as much as 8.83 lakh kgs belong to the leaf grades and 4.14 lakh kgs belong to the dust grades.

Orthodox share low

The proportion of orthodox teas continues to be low in both the leaf and dust grades. In the leaf counter, only 0.29 lakh kgs belong to orthodox, while 8.54 lakh kgs to CTC. Among the dusts, only 0.52 lakh kgs belong to orthodox, while 3.62 lakh kgs are CTC.

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