As much as 48 per cent of the offer remained unsold at Sale No: 14 of Coonoor Tea Trade Association auctions.
This was the highest percentage of teas remaining unsold so far in 2011 and 2 per cent more than the hitherto highest percentage recorded last week.
About 6.53 lakh kg out of the year's second highest offer of 13.60 lakh kg was withdrawn for want of buyers despite shedding Rs 3 a kg.
Consequently, teas worth about Rs 4.60 crore – the highest so far in 2011 – remained unsold reflecting absence of adequate demand arising from lack of promotion.
“Substantial orthodox leaf was withdrawn despite shedding Rs 2-3 a kg. High priced and better medium CTC leaf lost Rs 2-5 while plainers suffered heavy withdrawal despite easing Rs 2-3. Primary orthodox dust eased Rs 5-10. High priced and better medium CTC dust lost Rs 2-5, while plainers suffered huge withdrawal despite shedding Rs 2-3,” an auctioneer told Business Line .
Vigneshwar Estate and Sree Lakshmi Estate speciality topped CTC market at Rs 148 a kg each. Homedale Estate got Rs 142, Hittakkal Estate Rs 136 and Blue Monte Estate Special Rs 130. In all, 55 marks got Rs 100 and more.
Among orthodox teas from corporate sector, Curzon got Rs 180, Havukal Rs 165, Kairbetta Rs 161, Corsely Rs 158, Chamraj Rs 156, Quinshola clonal and Tiger Hill clonal Rs 155 each. In all, 29 marks got Rs 100 and more.
Export purchases were among the weakest of the recent weeks. Pakistan and the CIS bought very selectively for Rs 57-79 a kg.
Quotations held by brokers indicated bids ranging Rs 48-52 a kg for plain leaf grades and Rs 85-130 for brighter liquoring sorts.
They ranged Rs 50-54 for plain dusts and Rs 85-135 for brighter liquoring dusts.