Agri Business

Homedale tea fetches record price at Coonoor auctions

P. S. Sundar Coonoor | Updated on January 13, 2013



Homedale Tea Factory created a new South Indian price record at the first sale No: 3 of Coonoor Tea Trade Association (CTTA) auctions.

“Our Broken Orange Pekoe Small leaf tea, auctioned by Global Tea Brokers, reached a new high when Radhika Traders bought it for Rs 201 a kg. This was the highest price fetched by any CTC leaf and dust grade from any factory in this auction. It was the second highest price fetched by a CTC tea in the 50 years of CTTA auctions. It was also the highest price fetched by this grade in any auction in the South hitherto. Besides, it was the highest price fetched by us ever since our factory started manufacturing tea 61 years ago. This also marked a hat-trick record for us because for the third consecutive auctions, we have created new price records,” Homedale Managing Partner Prasant Menon told Business Line.

Cross Hill Estate got Rs 173, Vigneshwar Estate Rs 170 and Hittakkal Estate 156. Among orthodox teas from corporate sector, Highfield Estate got Rs 240, Chamraj Rs 235, Havukal Rs 189, Kairbetta Rs 184 and Prammas Rs 180. “Primary whole-leaf orthodox eased Rs 5-10 a kg. High-priced CTC leaf fetched Rs 2-4 more and plainers Rs 1-2 but better mediums lost up to Rs 2. Primary orthodox dust lost Rs 2-4. High-priced CTC dust was up by Rs 2-3, but others lot up to Rs 2. Fair amount of plainers remained unsold,” an auctioneer said.

Exports

The recent tension in the Indo-Pak relationship impacted Pakistan’s tea purchases. Few lines were bought for Rs 91-126 a kg. The CIS gave selective support at Rs 90-99. Quotations held by brokers indicated bids ranging Rs 89-93 a kg for plain leaf grades and Rs 110-150 for brighter liquoring sorts. They ranged Rs 88-92 for plain dusts and Rs 105-150 for brighter liquoring dusts.

Published on January 13, 2013

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