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The rising trend witnessed in offers at the auctions of Coonoor Tea Trade Association in recent weeks continues this week when a volume of 24.10 lakh kg will be offered at Sale No: 30 on Thursday and Friday.
This is the highest volume to be offered so far in this calendar. It is as much as 1.51 lakh kg more than last week’s offer.
Of this, a volume of 16.36 lakh kg belongs to leaf grades and 7.74 lakh kg belongs to dust grades. As much as 22.34 lakh kg belongs to CTC variety and only 1.76 lakh kg to the orthodox variety. The proportion of orthodox teas continues to be low in both leaf and dust grades. In the leaf counter, only 1.19 lakh kg belongs to orthodox while 15.17 lakh kg is of CTC. Among the dusts, only 57,000 kg belongs to orthodox while 7.17 lakh kg are CTC.
With huge volumes remaining unsold in the recent auctions, as much as 5.50 lakh kg of teas that was unsold in previous weeks is being re-offered this week. Last week, although 82 per cent of the offer was sold off, it could be achieved only by reducing prices by as much as ₹8 a kg over the previous week. Consequently, average prices crashed to ₹67.04 a kg – the lowest so far in 2014.
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