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Amidst widespread concerns of substantial volumes remaining unsold in the recent weeks, as much as 15.11 lakh kg is being offered for Sale No: 15 of Coonoor Tea Trade Association auctions to be conducted on Thursday and Friday, reveals an analysis of the listing by brokers.
This is the highest volume so far in 2011. It is 1.51 lakh kg more than last week's offer but as much as 2.01 lakh kg less than the offer this time last year.
Last week, as high as 48 per cent of the offer remained unsold. The week before, 46 per cent was withdrawn for want of buyers. Of the 15.11 lakh kg, fresh tea accounts for 11.69 lakh kg while as much as 3.14 lakh kg comprises teas remaining unsold in previous auctions. This is the highest volume of unsold teas getting re-catalogued this year.
Of the 15.11 lakh kg on offer, 10.50 lakh kg belong to the leaf grades and 4.61 lakh kg to the dust grades. As much as 14.22 lakh kg belong to CTC variety and only 0.89 lakh kg, orthodox variety. The proportion of orthodox teas continues to be low in both the leaf and dust grades. In the leaf counter, only 0.52 lakh kg belong to orthodox while 9.98 lakh kg, CTC. Among the dusts, only 0.37 lakh kg belong to orthodox while 4.24 lakh kg, CTC.
Worried producers have conducted meetings among themselves as also with brokers and Tea Board officials to help them achieve better sale percentage.
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