Tea exporters to Russia remained cautious at Sale No: 48 of Coonoor Tea Trade Association auctions as news of transport blockade due to unprecedented snowfall came.
“Russia is currently passing through massive snowfall unheard of during the last 50 years and in many places including Moscow snow stands up to 12 cm high. Waterways are frozen. Transportation has been suspended. Even flights have been diverted. Some areas suffer disruption in power supply which will hit storage facility. Some importers are reporting of adverse business condition. Collectively, we prefer to wait and watch rather than invest on stocks now”, an exporter told Business Line.
Some selective purchases were made for the CIS at Rs 86-93 a kg.
Pakistan bought for Rs 83-101 and some European ports for Rs 87-98. Internal purchases were strong.
“Orthodox leaf market was dearer by Rs 2-4 a kg. Mixed trend was seen for high-priced CTC leaf. Better mediums gained Rs 2-3 while plainers lost Re 1-2.
Primary orthodox dusts eased Rs 2-5. High-priced CTC dusts were dearer by Rs 3-5, mediums Re 1-2 and plainers Rs 2-3”, an auctioneer said.
In all, 93 per cent of the 26-week low offer of 10.94 lakh kg was sold.
Hittakkal Estate, Vigneshwar Estate and Shanthi Supreme topped CTC market at Rs 146 a kg each.
Deepika Supreme got Rs 143, Blue Monte Speciality Rs 142 and Homedale Estate Rs 141.
In all, 149 marks got Rs 100 and more.
Among orthodox teas from corporate sector, Highfield Estate got Rs 231, Chamraj Rs 200, Corsley Rs 186, Kairbetta and Havukal Rs 170 each.
In all, 37 marks got Rs 100 and more.
Quotations held by brokers indicated bids ranging Rs 81-84 a kg for plain leaf grades and Rs 105-130 for brighter liquoring sorts.
They ranged Rs 84-87 for plain dusts and Rs 105-145 for brighter liquoring dusts.