Teas worth Rs 4.72 crore remained unsold at Sale No: 43 of Coonoor Tea Trade Association auction as there were no takers for 37 per cent of the offering. This is despite a drop in the average price to Rs 78.07 a kg – the lowest level so far in 2013.

Prices dropped on an average by Rs 2 a kg over last week, but Homedale Estate tea, auctioned by Global Tea Brokers, gained Rs 8 to top CTC market when Komal Enterprises bought it for Rs 186 a kg. Vigneshwar Estate got Rs 178, Crosshill Estate Rs 176, Shanthi Supreme Rs 173 and Hittakkal Estate Rs 171. In all, 50 marks got Rs 125 and more a kg.

Chamraj topped orthodox market at Rs 231 followed by Highfield Estate at Rs 210, Kodanad Rs 205, Chamraj, Coonoor Tea and Corsley Rs 195 each. In all, 54 marks got Rs 125 and more a kg.

Pakistan was active in the range Rs 62-80 a kg, but with excess teas in global market, importers from all countries showed no interest to bid high.

“Floods of Andhra Pradesh and Odisha have blocked transportation. Besides, teas are available at lesser prices in North Indian auctions which have re-opened after holidays. So, upcountry buyers are procuring teas there itself which has reduced our demand at Coonoor,” a buyer told Business Line .

Quotations held by brokers indicated bids ranging Rs 60-62 a kg for plain leaf grades and Rs 115-140 for brighter liquoring sorts. They ranged Rs 66-70 for plain dusts and Rs 120-170 for brighter liquoring dusts.

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