Agri Business

Nearly 39% tea unsold at Coonoor auction

| Updated on: Apr 24, 2011
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Continuing the last one month's trend of huge volume remaining unsold in Coonoor Tea Trade Association auctions, as much as 39 per cent of the 13.74 lakh kg on offer remained unsold at Sale No: 16.

Teas worth Rs 3.51 crore were withdrawn for want of buyers despite shedding Rs 3 a kg.

“Orthodox leaf market struggled to remain steady. High priced and better medium CTC leaf lost Rs 3-5 while plainers suffered heavy withdrawal despite easing Rs 5-7. Some primary orthodox dust eased Rs 5-10. High priced CTC dust lost Rs 2-4, better mediums Rs 2-5 with withdrawal and plainers suffered withdrawal despite shedding Rs 4-5.”, an auctioneer told Business Line .

Homedale Estate tea, auctioned by Global Tea Brokers, topped CTC market at Rs 139 a kg. Vigneshwar Estate got Rs 135, Hittakkal Estate and Shanthi Supreme Rs 127 each, Professor and Deepika Supreme Rs 120 each. In all, 54 marks got Rs 100 and more.

Among orthodox teas from corporate sector, Chamraj got Rs 184, Curzon Rs 170, Havukal Rs 159, Kairbetta Rs 156, Quinshola clonal Rs 155 and Tiger Hill clonal Rs 150. In all, 29 marks got Rs 100 and more.

Weak exports

Export purchases continued to be weak. Pakistan bought very selectively in a wide range, Rs 50-71 and the CIS, Rs 50-56 a kg.

Quotations held by brokers indicated bids ranging Rs 46-48 a kg for plain leaf grades and Rs 80-125 for brighter liquoring sorts.

They ranged Rs 48-50 for plain dusts and Rs 85-126 for brighter liquoring dusts.

Published on April 24, 2011

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