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The sale percentage has fallen for both leaf and dust at the auctions of Coonoor Tea Trade Association this week, reveals an analysis of the market reports.
In the leaf auction, only 75.77 per cent was sold this week against 83.27 per cent last week. This meant that despite shedding prices by Rs 2-3 a kg, there were no takers for about a quarter of the volume this week against about 17 per cent last week.
In the dust auction, only 58.11 per cent was sold against 75.30 per cent last week. That meant, there were no takers for as much as 42 per cent this week despite shedding Rs 3 a kg, even as the producers were worried that a quarter of their supplies of last week had remained unsold.
The highest sale percentage among the brokers in the leaf auction was 81.28 and the lowest 62.23. In the dust auction, the highest percentage was only 77.71, while the lowest was 34.88 closely followed by another broker at 35.19. This is forcing the brokers to find markets outside the auction or re-catalogue the unsold teas in future auctions.
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