Comments
Prices crashed to six-month low at Sale 50 of the auctions of Coonoor Tea Trade Association (CTTA). The average price nosedived to ₹108.12 a kg – the lowest since June 12.
“In the recent weeks, when prices were ruling higher, 60 to 70 per cent of the offer had remained unsold for want of buyers, especially from upcountry markets and exporters,” CTTA Chairman L Vairavan told BusinessLine.
“To avoid the piling of unsold stock, producers have been sacrificing prices week after week for over a month now,” he said.
“We have appealed to Tea Board to take steps to prevent the sharp fall in prices and to implement seriously the ban in production during the ongoing winter season in North Indian plantation to rid the market of substandard teas,” he disclosed.
This week, no tea could fetch over ₹300/kg. The tea from Homedale Tea Factory, auctioned by Global Tea Brokers, topped the entire auction when Tea Sip and Taste bought it for ₹270 a kg.
Shanthi Supreme (₹208) and Crosshill Estate Special (₹205) were the only other CTC teas which fetched over ₹ 200/kg.
Among Orthodox teas, Kodanad topped at ₹251 followed by Glendale ₹235, Havukal ₹225, Goldsland ₹221, Devashola and Lockhart Gold ₹216 each, Lockhart ₹211, Kairbetta ₹210 and Kil Kotagiri ₹206.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.