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A volume of 8.21 lakh kg will be offered for January's last auctions of Coonoor Tea Trade Association (CTTA), to be conducted on Thursday and Friday, reveals an analysis of the listing by brokers.
This is the lowest volume in more than a year. It is 1.33 lakh kg less than the offer of last auctions and as much as 5.23 lakh kg less than the offer this time last year.
Of the 8.21 lakh kg on offer, 5.85 lakh kg belong to the leaf grades and 2.36 lakh kg belong to the dust grades.
As much as 7.56 lakh kg belong to CTC variety and only 0.65 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 0.39 lakh kg belong to orthodox while 5.46 lakh kg, CTC.
Among the dusts, only 0.26 lakh kg belong to orthodox while 2.10 lakh kg, CTC.
In the 8.21 lakh kg, fresh tea accounts for 7.60 lakh kg and 51,000 kg comprise remaining unsold teas in previous auctions.
“Following low supplies, absorption has been at higher rates in the recent weeks. With winter remaining harsh in most countries, export purchase is also strong. This has been keeping the market buoyant”, an auctioneer told Business Line .
This week, quotations held by brokers indicated bids ranging Rs 50-53 a kg for plain leaf grades and Rs 80-138 for brighter liquoring sorts. They ranged Rs 61-66 for plain dusts and Rs 90-140 for brighter liquoring dusts.
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