Agri Business

Nearly 33% tea unsold at Coonoor auctions

P. S. Sundar Coonoor | Updated on March 20, 2011

As much as 33 per cent of the 10.57 lakh kg on offer at Sale No: 11 of Coonoor Tea Trade Association auction was withdrawn for want of buyers even after shedding Rs 3 a kg.

Teas worth Rs 2.53 crore remained unsold.

Vigneshwar Speciality topped the CTC market at Rs 171 a kgHomedale Estate got Rs 155, Shanthi Supreme Rs 142, Hittakkal Estate Rs 137, Blue Mont Estate Special Rs 134, Darmona Estate and Professor Rs 131 each.

In all, 75 marks fetched Rs 100 and more.

Among orthodox teas from corporate sector, Chamraj got Rs 181, Curzon Rs 177, Highfield Estate Rs 166, Kairbetta and Havukal Rs 163 each and Quinshola clonal Rs 160. In all, 27 marks got Rs 100 and more.

Less demand

“Generally, very less demand prevailed for orthodox leaf market and even after prices dropping Rs 2-5 a kg, substantial volumes remained unsold. High-priced CTC leaf lost Rs 2-4, mediums Rs 1-3 and plainers suffered withdrawal even after shedding Rs 3.

Primary orthodox dusts lost as much as Rs 10-15. CTC dusts, however, gained Rs 2-4 but plainers suffered withdrawal even after shedding Rs 1-3”, an auctioneer said.

Weak exports

Export purchases continued to be weak. Pakistan bought very selectively for Rs 51-72 a kg and the CIS, Rs 60-75.

Internal unrest in West Asia and North Africa has restricted export purchases to those destinations.

Quotations held by brokers indicated bids ranging Rs 48-54 a kg for plain leaf grades and Rs 85-130 for brighter liquoring sorts.

They ranged Rs 50-55 for plain dusts and Rs 85-140 for brighter liquoring dusts.

Published on March 20, 2011

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