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The falling trend in the last couple of months at the auctions of the Coonoor Tea Trade Association (CTTA) continued this week with the average price crashing to ₹92.25 a kg.
This was the lowest price since August 24, 2018. Even at this rate, teas worth ₹6.50 crore remained unsold since there were no takers for as much as 40 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. It scored a hat-trick by topping the entire auction for the third consecutive week when its Red Dust grade, auctioned by Global Tea Brokers, was bought by Pooja Trading Co for ₹259 a kg.
Homedale Pekoe Dust grade, auctioned by Global Tea Brokers, followed at ₹247 a kg. These prices were higher than the export-oriented orthodox teas from the corporate sector.
Among the orthodox teas, Chamraj topped at ₹234 a kg followed by Kairbetta at ₹225, Kodanad at ₹211 and Havukal at ₹205.
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