Agri Business

Pak continues to keep away from buying tea at Coonoor sale

P. S. Sundar Coonoor | Updated on November 20, 2017

For the second consecutive week, Pakistan has refrained from purchasing at the auctions of Coonoor Tea Trade Association. Normalcy in trade is yet to return after the disturbances in the Indo-Pak border.

“Tea is not being transported easily through the Wagah border. “The hard talks of political leaders create uncertainty.

The doubt over the link of Thursday’s Hyderabad bomb blasts with Pakistani terrorist movements also hit purchases for Pakistan at this week’s auctions which ended on Friday”, an auctioneer told Business Line.

Some exporters, however, contended that Pakistan has already picked up required volumes in the previous weeks.

But the international market reports show that this week, Pakistan had stepped its purchases at Mombasa auction for Kenya and Malawi teas and Jakarta auction for Indonesian teas. This is regarded as to cover up the short supplies from India.

Some producers, however, contended that Pakistan was sidelined in the price rally. “All the delegations between India and Pakistan exchanged so far proved that Pakistan wants only low-priced teas from us. This week, it paid price equivalent to Rs 165 a kg for Kenyan teas while it scouted for teas worth Rs 80 here”, a producer disclosed. The CIS bought for Rs 90-115 a kg. There was some purchase for European ports at Rs 89-98. Quotations held by brokers indicated bids ranging Rs 83-87 a kg for plain leaf grades and Rs 110-150 for brighter liquoring sorts. The ranges were Rs 84-89 for plain dusts and Rs 110-150 for brighter liquoring dusts.

Published on February 24, 2013

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