Agri Business

Another price record at Coonoor tea auctions

PS Sundar Coonoor | Updated on July 13, 2020

A new price record was created at Sale No: 28 of the auctions of Coonoor Tea Trade Association when the Broken Pekoe grade of Vigneshwar Speciality Tea, auctioned by Paramount Tea Marketing P Ltd, was bought by Nisha Enterprises for ₹315 a kg.

“This is the highest price for any CTC tea not only in Coonoor but in the entire South Indian auctions this week,” Ravichandran Broos, General Manager, Paramount Tea Marketing, who auctioned this tea, told BusinessLine.

“Two leaf grades of Homedale Estate fetched top prices of ₹ 305 per kg each,” Rajesh Gupta, Managing Director, Global Tea Brokers, who auctioned these teas, said.

“In the dust tea auction, two grades of Vigneshwar Speciality teas auctioned by us fetched ₹ 300 per kg each,” Broos added.

These CTC teas from bought leaf factories fetched prices higher than even the orthodox teas from corporate factories.

Among other CTC teas, Pinewood Estate got ₹227 a kg, Crosshill Estate Special ₹216, Kannavarai Estate ₹206 and Lakshmi Estate ₹ 200.

Among orthodox teas, Kodanad topped at ₹240 followed by Devashola ₹221, Kairbetta ₹220, Glendale ₹217, Kilkotagiri ₹213, Lockhart Gold ₹ 206 and Havukal ₹205.

The average price rose significantly to ₹ 128.26 a kg from the previous week’s ₹ 116.60. Still, nearly 96 per cent of the offers were sold thanks to increased demand from upcountry buyers, especially in those States where the lockdown has been relaxed.

Published on July 13, 2020

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