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The declining trend in the sale percentage witnessed last week at Coonoor Tea Trade Association auctions continued this week with 79 per cent of the year's highest offer of 16.54 lakh kg being sold at Rs 3 a kg less. Overall, 83.27 per cent of the leaf and 75.30 per cent of the dust offer were sold.
In the leaf market, all the six brokers reported over 75 per cent sale. “We posted the highest proportion of 95 per cent sale with only 8,102 kg out of 1,52,695 kg offered remaining unsold,” Mr N. Sriram, Chief Executive Officer, Contemporary Tea Auctioneers Pvt Ltd, told Business Line .
Lower trade in dust
In the dust market, the sale proportion was lower at 56 to 85 per cent.
“Orthodox leaf eased Rs 2-5 a kg. Better liquoring CTC leaf lost Rs 3-4, better mediums Rs 1-3, and plainers Rs 2-5. Orthodox dusts suffered withdrawal even after shedding Rs 2-3. Better liquoring and netter medium CTC dusts lost Rs 2-5 and plainers could be sold only when prices were reduced by Rs 2-4,” an auctioneer said.
Among green tea, Wood Bridge Estate's ‘Hyson' grade, auctioned by Paramount Tea Marketing, fetched Rs 217.
On the export front, Pakistan bought in wide range — Rs 38-78 a kg, the CIS Rs 41-66 and European markets Rs 49-55.
Quotations held by brokers indicated bids ranging Rs 38-43 a kg for plain leaf grades and Rs 80-135 for brighter liquoring sorts. They ranged Rs 43-47 for plain dusts and Rs 85-135 for brighter liquoring dusts.
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