After a few weeks of declining prices, buoyancy set in at the Coonoor Tea Trade Association auctions this week with about 90 per cent of the offer of 20.91 lakh kg at Sale No: 28 being sold with prices raising Rs 2 a kg over the previous week.

Homedale Estate tea, auctioned by Global Tea Brokers, topped the CTC market at Rs 151 a kg. Hittakkal Estate got Rs 132, Darmona Estate Rs 131, Vigneshwar Estate Rs 129 and Professor Rs 126. In all, 78 marks got Rs 100 and more.

Among the orthodox teas from corporate sector, Chamraj got Rs 208, Havukal and Kairbetta Rs 161 each, Curzon Rs 151 and Corsley Rs 148. In all, 31 marks got Rs 100 and more.

“In the orthodox leaf market, primary brokens gained Rs 5-10 a kg although others lost Rs 2-3. CTC leaf market was dearer by Rs 2-3. Orthodox dust market was, however, easier by Rs 1-2. Medium and plainer CTC dusts gained Rs 2-4,” an auctioneer told Business Line.

On the export front, Pakistan bought selectively in a wide range of Rs 60-88 a kg and the CIS, Rs 66-91. There was some purchase for European ports at Rs 70-89.

Quotations held by brokers indicated bids ranging Rs 58-62 a kg for plain leaf grades and Rs 90-125 for brighter liquoring sorts. They ranged Rs 62-67 for plain dusts and Rs 100-125 for brighter liquoring dusts.

(This article was published on July 16, 2012)
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