Agri Business

Nearly 27% tea unsold at Coonoor sale

P. S. Sundar Coonoor | Updated on March 13, 2011

A tea garden near Coonoor. File Photo: D. Radhakrishnan

For the sixth consecutive week, Homedale Estate tea, auctioned by Global Tea Brokers, topped CTC market in Coonoor Tea Trade Association auctions fetching Rs 156 a kg at Sale No: 10.

“Paras Tea Co bought two of our teas – Pekoe Dust (PD) and Red Dust (RD) each for Rs 156. Our Broken Orange Pekoe (BOP) topped leaf market at Rs 155.

In all, our 9 grades got Rs 127 and more”, Homedale Managing Partner, Mr Prashant Menon, told Business Line.

Vigneshwar Estate got Rs 146, Shanthi Supreme Rs 137, Hittakkal Estate Rs 136, Darmona Estate Rs 133, Deepika Supreme Rs 132 and Professor Rs 130. In all, 78 marks fetched Rs 100 and more.Among orthodox teas from corporate sector, 33 marks got Rs 100 and more.

As much as 27 per cent of the 11.19 lakh kg on offer was withdrawn for want of buyers even after shedding Rs 3 a kg. Teas worth Rs 2.19 crore remained unsold.

“Orthodox whole leaf eased up to Rs 10 a kg and the rest Rs 1-3. High-priced CTC leaf lost Rs 5-10, better mediums Rs 2-3 and plainers suffered withdrawal even after shedding Rs 3. Orthodox dusts lost Rs 2-5 but primary grades managed to gain up to Rs 5. CTC dusts eased Rs 1-4 and plainers suffered withdrawal”, an auctioneer said.

Export market

Export purchases continued to be weak. Pakistan bought very selectively for Rs 50-75 a kg and the CIS, Rs 58-78. Internal unrest in West Asia and North Africa has restricted export purchases to those destinations.

Quotations held by brokers indicated bids ranging Rs 44-56 a kg for plain leaf grades and Rs 85-130 for brighter liquoring sorts. They ranged Rs 52-61 for plain dusts and Rs 85-135 for brighter liquoring dusts.

Published on March 13, 2011

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