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This week’s turnover at Coonoor Tea Trade Association auctions dropped to the lowest level in five weeks, reveals an analysis of the market reports.
This happened because of the decline in both the volume sold and the price earned.
In all, 10 lakh kg was sold against 10.75 lakh kg in the previous week. This was the lowest volume sold in five weeks. Even this volume could be sold only by dropping prices marginally to Rs 92.10 a kg from Rs 92.25 last week. Export demand was weak with only selective purchase for Pakistan at Rs 77-94 a kg and the CIS at Rs 76-92. There was some purchase for Egypt and European ports at Rs 80-93. With less competition from exporters, domestic buyers also exerted lower pressure.
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