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The falling trend witnessed in the prices for the last couple of months at the auctions of Coonoor Tea Trade Association (CTTA) continued this week with the average price at Sale No: 26 crashing to ₹87.32 a kg.
This is ₹5 less per kg compared to the previous week. This was the lowest price so far in 2019 and the lowest price since August 10, 2018.
Even at this rate, teas worth ₹4.34 crore remained unsold as there were no takers for as much as 27 per cent of the offer.
Among the bought leaf factories selling CTC teas, only Homedale Tea Factory could enter the high-price bracket of ₹200/kg and for the fourth consecutive week, it has topped the auctions.
Homedale Red Dust grade, auctioned by Global Tea Brokers, topped when Shreeji Trades bought it for ₹261 a kg. Broken Orange Pekoe grade, auctioned by Global Tea Brokers topped the Leaf tea auctions at ₹251. These prices were more than the export-oriented orthodox teas from corporate sector.
Homedale Super Red Dust grade, auctioned by Global Tea Brokers (₹220) and Homedale Broken Pekoe grade, auctioned by Global Tea Brokers (₹200) were the only CTC teas to enter the high-price bracket of ₹200.
Among the orthodox teas, Kairbetta topped at ₹235 a kg followed by Chamraj ₹233 and Havukal ₹205.
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