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More than a quarter of the 16.31 lakh kg offered for sale no: 31 of Coonoor Tea Trade Association auctions could not be sold for want of buyers despite the volume being 6-week low and shedding prices by Rs 3 a kg. Teas worth Rs 2.39 crore remained unsold as there were no takers for 25.5 per cent of the offer.
“Orthodox leaf market was irregular and some invoices suffered withdrawal. Better liquoring CTC leaf grades eased Rs 2-4 a kg, better mediums Rs 1-2 and plainers up to Rs 3. ”an auctioneer told Business Line.
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