Agri Business

Coonoor tea auction volume falls

P. S. Sundar Coonoor | Updated on February 17, 2011

tea_342162a.jpg   -  Business Line

A volume of 9.88 lakh kg will be offered for Sale No: 7 of the auctions of the Coonoor Tea Trade Association (CTTA) to be conducted tomorrow and Friday, reveals an analysis of the listing by brokers.

This is 17,000 kg lower than last week's offer and as much as 5.78 lakh kg lower than the offer this time last year.

Of the 9.88 lakh kg on offer, 6.81 lakh kg belongs to the leaf grades and 3.07 lakh kg to the dust grades. As much as 9.25 lakh kg belongs to CTC variety and only 0.63 lakh kg to orthodox variety.

The proportion of orthodox teas continues to be low in both the leaf and dust grades. In the leaf counter, only 0.39 lakh kg belongs to orthodox while 6.42 lakh kg to CTC. Among the dusts, only 0.24 lakh kg belongs to orthodox while 2.83 lakh kg to CTC.

In the 9.88 lakh kg, fresh tea accounts for 8.98 lakh kg and 90,000 kgs comprises teas remaining unsold in previous auctions. Although the offer is lower than last year, demand has been inadequate.

Export purchases were weak in the last few weeks. Purchase has practically come to a standstill for Egypt and Tunisia, which are facing internal unrest. Last week, unsold stock was depleted only by reducing prices by Rs 3 a kg. Much dependence is on upcountry purchase.

Published on February 16, 2011

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