Agri Business

Buoyancy continues at Coonoor tea auction

P S SUNDAR Coonoor | Updated on August 12, 2020

Buoyancy continued to prevail at the auctions of Coonoor Tea Trade Association with the average price in Sale No: 32 rising further and reaching the all-time high level of ₹150.07 a kg.

Nevertheless, about 92 per cent of the offer was sold because of increased demand from upcountry buyers. Floods in Assam, West Bengal and Kerala affected the supply of teas from these States. This, together with the relaxation of lockdown in some States, helped prices to rise.

Homedale Estate’s Red Dust grade, auctioned by Global Tea Brokers, topped CTC market when Tea Service India Pvt Ltd bought it for ₹306 a kg – the only CTC tea to enter ₹300/kg bracket.

In the CTC Leaf auction, Cross Hill Estate’s two grades, auctioned by Global Tea Brokers, topped when Nisha Enterprises bought them for ₹290 and ₹286 a kg.

Among other CTC teas, Pinewood Estate got ₹269, Vigneshwar Estate ₹256, Shanthi Supreme ₹240, Bellati Estate ₹230, Kannavarai Estate ₹227, Deepika Supreme and Riverside Estate ₹223 each and Palmira Estate ₹221.

Among Orthodox teas, two grades of High Cliff Factory, auctioned by Paramount Tea Marketing P Ltd, topped the entire auctions when Nisha Enterprises bought them for ₹400 a kg each.

Kodanad got ₹255, Glendale ₹252, Kil Kotagiri ₹241, Kairbetta ₹234, Devashola ₹227, Lockhart ₹220, Nonsuch orthodox and Havukal ₹211 each and Siruvani ₹200.

Published on August 12, 2020

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