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The declining trend in the offer of teas for Coonoor Tea Trade Association auctions continues with the volume of 13.30 lakh kg catalogued for Sale No: 32 to be held on Thursday and Friday being the lowest of the last nine weeks.
This is 1.17 lakh kg less than last week’s offer and as much as two lakh kg less than the offer this time last year, reveals an analysis of brokers’ listing.
Of the 13.30 lakh kg on offer, 9.77 lakh kg belongs to the leaf grades and 3.53 lakh kg belongs to the dust grades. As much as 12.28 lakh kg belongs to CTC variety and only 1.02 lakh kg, orthodox variety. The proportion of orthodox teas continues to be low in both the leaf and dust grades. In the leaf counter, only 0.63 lakh kg belongs to orthodox while 9.14 lakh kg, CTC. Among the dusts, only 0.39 lakh kg belongs to orthodox while 3.14 lakh kg, CTC.
The substantial portion of this volume comprises fresh teas totalling 13.30 lakh kg. Only about 55,000 kg comprises teas which had remained unsold in previous auctions. Last week, in the leaf tea auction, Hindustan Unilever Ltd (HUL) and Tata Global Beverages Ltd bought good medium varieties. Godfrey Philips India Ltd was selective while Duncans Tea Ltd did not operate. In the dust tea auction, HUL bought good medium grades. Godfrey Philips was selective while Tata Global and Duncans Tea did not operate.
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