22% tea unsold at Coonoor auctions

Around 22 per cent of the year's second highest offer of 15.12 lakh kg at Sale No: 20 of Coonoor Tea Trade Association auctions remained unsold. Teas worth about Rs 1.95 crore were withdrawn for want of buyers despite shedding Rs 3 a kg.

“Orthodox leaf lost Rs 2-3 a kg. High-priced CTC leaf irregularly gained and lost up to Rs 3, while plainers suffered withdrawal even after shedding Rs 2-3. Some cleaner blacker grades, however, managed to be steady. Primary orthodox dusts lost Rs 5-10.

Among CTC dusts, high-priced sorts eased up to Rs 5 and plainers lost Rs 2-3 with withdrawals”, an auctioneer told Business Line.

Homedale Estate tea, auctioned by Global Tea Brokers, topped CTC market when Raj Traders bought for Rs 151 a kg. Vigneshwar Estate got Rs 138, Shanthi Supreme Rs 134, Blue Monte Estate Special and Professor Rs 130 each. Among orthodox teas from corporate sector, Chamraj got Rs 198, Curzon Rs 147, Havukal Rs 142, Kairbetta Rs 141 and Mailoor Rs 130. On the export front, Pakistan gave strong support for select grades in a wide range of Rs 42-79 a kg. The CIS bought for Rs 42-58 a kg. There was some buying for European ports.

Quotations held by brokers indicated bids ranging Rs 40-43 a kg for plain leaf grades and Rs 80-130 for brighter liquoring sorts. They ranged Rs 44-47 for plain dusts and Rs 85-130 for brighter liquoring dusts.