The Hindu Business Line : 50% withdrawal at Coonoor tea sale on inadequate demand

Nearly 50 per cent of the 12.48 lakh kg of leaf and 25 per cent of the 4.74 lakh kg of dust teas offered for Sale No: 26 of the auctions of Coonoor Tea Trade Association (CTTA) have remained unsold as the demand was inadequate to absorb the teas at the base price fixed in the e-auctions.

In all, 17.22 lakh kg had been offered, the highest volume so far in 2009.

“The huge volume, general drop in quality and the disproportionately high base price fixed discouraged us from bidding high.

“There had been delay in buyers getting the samples on time.

Also, due to the scorching heat in North India, tea consumption has fallen and orders from our principals in the North have reduced”, a buyer told Business Line.

Generally, prices dropped by Rs 3 a kg. “Orthodox leaf market witnessed a mixed trend with prices rising and losing Rs 1-3 a kg. CTC high-priced and better mediums leaf teas eased Rs 4-5, bolder mediums Rs 1-3 and plainers Rs 2-4. Finer orthodox dust grades lost Rs 3-5. High-priced CTC dusts eased Rs 5-7, better mediums Rs 4-5. RD grades gained Rs 2-3 and plainers, Rs 1-2”, an auctioneer said.

CTCs

Among CTC teas from bought-leaf factories, Darmona Estate got the highest bid of Rs 140 a kg and four of its grades fetched Rs 133 and more. Homedale’s highest bid was Rs 127 and four of its grades got Rs 120 and more. Professor got Rs 124.50, Vigneshwar Estate and Shanthi Supreme Rs 122 each, Blue Monte Estate Special, Hittakkal Estate and Deepika Supreme Rs 120 each. In all, 44 grades fetched Rs 100 and more.

Orthodox

Among orthodox teas from corporate sector, Chamraj got the highest bid of Rs 152, followed by Mailoor Rs 150, Curzon and Glendale Rs 147 each, Parkside Rs 141, Pascoe’s Woodlands, Kodanaad and Craigmore Rs 140 each. In all, 30 grades fetched Rs 100 and more.

Quotations held by brokers indicated bids ranging from Rs 52-56 a kg for plain leaf grades and Rs 95-120 for brighter liquoring sorts. They ranged Rs 64-68 a kg for plain dust grades and Rs 100-120 for brighter liquoring sorts.

On the export front, Pakistan picked up cleaner blacker sorts for Rs 78-83 a kg., while the CIS selected bolder grades for Rs 68-70.

Among corporate buyers, Hindustan Unilever Ltd did not operate at all.