Agri Business

Three-weeks low volume for Coonoor tea auction

P. S. Sundar Coonoor | Updated on July 20, 2011 Published on July 20, 2011

Samples of some of the tea varities, which came under the hammer at the unique speciality tea auction (file photo): D.Radhakrishnan   -  Business Line

A volume of 16.71 lakh kg will be offered for sale no: 29 of the auctions of Coonoor Tea Trade Association to be held on Thursday and Friday, reveals an analysis of brokers' listing.

This is the lowest volume of the last three weeks. It is 46,000 kg lower than last week's offer and as much as 1.13 lakh kg less than the offer this time last year.

Of the 16.71 lakh kg on offer, 11.33 lakh kg belongs to the leaf grades and 5.38 lakh kg belongs to the dust grades. As much as 15.51 lakh kg belongs to CTC variety and only 1.20 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 0.58 lakh kg belongs to orthodox while 10.75 lakh kg, CTC. Among the dusts, only 0.62 lakh kg belongs to orthodox while 4.76 lakh kg, CTC.

In the 16.71 lakh kg, fresh teas account for 14.40 lakh kg. As much as 2.31 lakh kg comprises teas which had remained unsold in previous auctions. The percentage of teas remaining unsold has been on the rise in recent weeks.. About 28 to 33 per cent of the offer had to be withdrawn in the last couple of weeks for want of buyers even after shedding Rs 3 a kg. Lack of aggressive promotion led to the market's inability to retain activated demand, producers allege.

Published on July 20, 2011
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