Agri Business

CIS buying supports tea prices at Coonoor sale

Coonoor | Updated on January 17, 2011 Published on January 17, 2011

The CIS was the major supporter for orthodox teas in both north Indian and south Indian auctions this week, reveals an analysis of the market reports of auction centres and various brokers.

“The CIS and Iran shippers were active at the Kolkata auctions. Iraq buying was selective. Dubai has been buying this week. Well-made whole leaf grades sold much above brokers' valuation. Demand for fannings and secondaries were good but at lower prices,” Mr Subodh Paul, Director, Contemporary Brokers P. Ltd, Kolkata, told Business Line.

The CIS and Tunisia supported orthodox teas in South Indian auctions.

The best grades fetched prices in the range of Rs 180-190 a kg in the North and Rs 110-150 in South Indian auctions. The low-end teas earned Rs 90-95 in the North and Rs 70-80 in the South.

But north Indian supplies have dwindled sharply with pruning in progress at the plantations in Assam, Dooars, Terai and Cachar. Quality South Indian supplies suffered due to inadequate sunshine hours. The world-over, there is a short supply.

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Published on January 17, 2011
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