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Every kg of tea sold through Coonoor Tea Trade Association is currently fetching, on an average, Rs 8 less than this time last year, reveals an analysis of Market Reports.
The auction average is about Rs 59 a kg against Rs 51 last year. The prices of both orthodox teas which are mostly exported and the CTC teas which are mostly consumed within the country are ruling lower than last year. Orthodox teas are currently fetching an average price of Rs 71 a kg against Rs 65 last year.
CTC teas are fetching Rs 58 against Rs 50. Increased export demand helped the market to be buoyant in June but insufficient measures to retain the export demand is resulting in lower purchases this month. With slackened export demand, domestic buyers are facing less competition than in June.
This week, 22 per cent of the leaf and 33 per cent of the dust offering had to be withdrawn for want of buyers even after shedding Rs 3 a kg. In the last few weeks, green tea is also being offered. This week, Hyson grade of Wood Bridge Green Tea, auctioned by Paramount Tea Marketing, fetched Rs 215 a kg and its fine grade was sold at Rs 190.
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