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PS Sundar
Teas worth ₹3.24 crore remained unsold at Sale 49 of the auctions of the Coonoor Tea Trade Association as there were no takers for about 23 per cent of the offer.
Buyers, including exporters, contented that in view of the economic slowdown, the Centre should take steps to make adequate funds available to them to invest in high-priced teas.
None of the export-oriented orthodox tea from the corporate sector could top the auction this week.
A small-scale bought leaf factory, Homedale Tea Factory, fetched top prices for its CTC teas. Of them, Homedale Red Dust tea, auctioned by Global Tea Brokers, topped the entire auction when J P Enterprises bought it for ₹271 a kg. Homedale Super Red Dust tea, auctioned by Global Tea Brokers, followed at ₹266.
In the CTC Leaf auctions, Homedale Estate’s Broken Pekoe tea, auctioned by Global Tea Brokers, topped at ₹220.
The highest price fetched by orthodox teas from corporate sector was ₹257 by Kodanad. Chamraj got ₹254, Kairbetta ₹243, Nonsuch orthodox ₹228 and Glendale ₹216.
The average price fetched by all the teas this week was ₹79.03 per kg. This time last year, the average price was much higher at ₹102.08.
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