Pakistan refrains from buying Coonoor tea for third week

For the third consecutive week, Pakistan has refrained from purchasing at the auctions of Coonoor Tea Trade Association.

“We do not have encouraging orders from our Pakistan importers yet. Pakistan traders hold sufficient stocks from previous purchases,” an auctioneer told Business Line.

However, international market reports show that this week, Pakistan had bought 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.

Enquiry from most other exporters was limited to medium and plain grades at this week’s sale No: 9. The CIS bought for Rs 88-107 a kg. There was some purchase for other ports at Rs 82-96.

Internal buyers were, however, fairly active because of low supplies in North India where some Kolkata auctions for this month have been listed for dropping. Upcountry buyers picked up brighter-liquoring teas.

Quotations held by brokers indicated bids ranging Rs 83-87 a kg for plain leaf grades and Rs 110-150 for brighter liquoring sorts. They ranged Rs 87-90 for plain dusts and Rs 110-150 for brighter liquoring dusts.

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