Agri Business

Coonoor tea auction price crashes to year’s lowest

P S SUNDAR Coonoor | Updated on March 01, 2021

Following inadequate demand, the average price at sale 8 of the auctions of Coonoor Tea Trade Association nosedived to ₹ 125.62 a kg – the lowest so far in calendar 2021.

This was nearly ₹ 6 less per kg over the previous week.

Despite this, there were no takers for as much 41 per cent of the offer resulting in teas worth ₹8.53 crore remaining unsold.

The Broken Orange Pekoe CTC grade of Crosshill Estate Special, auctioned by Global Tea Brokers, topped the auctions when Tea Services India Pvt Ltd bought it for ₹ 301 a kg. This was the only tea which crossed ₹ 300/kg level this week.

The green tea from Pascoes Woodlands, auctioned by Paramount Tea Marketing P Ltd, fetched ₹ 289 when Oswal Tea Traders bought it.

Among orthodox teas, Kodanad got ₹ 250, Havukal ₹ 248, Kairbetta ₹ 247, Glendale ₹ 232, Kil Kotagiri ₹ 225, Devashola ₹ 222, Nonsuch Orthodox ₹ 218, Siruvani ₹ 208 and Mailoor ₹ 200.

Among other CTC teas, Pinewood got ₹ 266, Vigneshwar Estate ₹ 228, Riverside Estate got ₹ 226, Hittakkal Estate ₹ 222, Waver Tree ₹ 217, Deepika Supreme ₹ 214, Bellatti Estate ₹ 213, Kannavarai Estate₹ 204, Professor Superfine ₹ 203, Shanthi Supreme and Banacombai Estate ₹ 200 each.

Both the upcountry buyers and exporters were selective and showed hesitancy to pick up high priced teas.

Harsh winter conditions in many countries, including parts of the US, Russia, Europe and Japan where waterways are frozen obstructing the movement of goods, have affected tea shipments, some exporters said.

Published on March 01, 2021

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