The Hindu Business Line : Coonoor tea prices rise on demand

Coonoor, June 22 Market buoyancy continued at Sale No: 25 of the Coonoor Tea Trade Association (CTTA) auctions on Friday when prices rose on an average, Rs 2 a kg over last week owing to adequate demand to absorb the huge offer of 13.26 lakh kg.

Pakistan was the mainstay of the CTC leaf market for the fourth consecutive week. It paid Rs 70-74 a kg. “Although there is quality difference, Pakistan gains around Rs 57 a kg by buying here compared to Mombassa where it picks up Kenyan teas for around Rs 129”, an exporter told Business Line. Pakistan was forceful in blacker grades of CTC dusts as well.

Iraq bought medium grades for around Rs 60. CIS purchased plainer grades paying Rs 52-54. Egypt bought good medium smaller brokens and fannings paying up to Rs 66. The lone Tunisian buyer bought smaller brokens and fannings paying up to Rs 71. Poland confined to Rs 44 to 46 range.

Rains and floods in North India caused some disturbance in the orders from upcountry buyers. But, the Gorkha land stir in Darjeeling increased the demand for quality teas. There was selective buying for Defence consumption. Among the corporate buyers, Hindustan Unilever Ltd., Duncans and Tata Tea offered good support for medium grades.

“Better medium sorts got Rs 1-2 a kg more. Smaller brokens and fannings fetched Rs 2 more. Whole leaf orthodox appreciated by Rs 5-10. Brokens and fanning orthodox got Rs 3-5 more. Powdery CTC dusts gained Rs 2-4. Medium and plainers gained Rs 2-3. Primary orthodox dusts were dearer by Rs 7-10 while secondaries appreciated Rs 1-2”, an auctioneer said.

Darmona Estate continued to be the sole brand in Rs 100-plus category for CTC teas from bought-leaf factories. In the leaf market, its BOPF grade topped at Rs 105 a kg. In the dust market, its RD grade topped also fetching Rs 105. Homedale Estate got Rs 99, Vigneshwar Estate Rs 93, Hittakkal Estate and Professor Rs 89 each, Shanthi Supreme Rs 87, Highfield Estate Special and Ella Estate Rs 86 each, Garswood Estate clonal and Sree Tea Supreme Rs 85 each, Kannavarai Estate Rs 84, Warwick Rs 83, Deepika Supreme and Selva Ganapathy Supreme Rs 82 each, Green View Estate and Aroma Estate Rs 81 each.

Among the orthodox teas from corporate sector, Tiger Hill got Rs 123, Chamraj Rs 116, Havukal Rs 115, Colacumby Rs 113, Prammas Rs 112, Corsley and Mailoor Rs 108, Curzon Rs 106, Kairbetta Rs 105, Sutton Rs 104 and Glendale Rs 102.

Quotations held by brokers indicated bids ranging from Rs 43-46 a kg for plain leaf grades and Rs 65-84 for the brighter liquoring sorts. They ranged Rs 49-54 a kg for plain dust grades and Rs 65-86 for brighter liquoring sorts.