Coonoor tea auctions end the year with rise in price

The auctions of Coonoor Tea Trade Association for the year 2020 ended with the average price rising to ₹114.37 a kg from ₹112.17 in the previous auction.

In the final auction (Sale No: 52), the oldest bought leaf factory in Kotagiri region, which is now celebrating its Platinum Jubilee, topped the entire auctions when its Broken Orange Pekoe Small Leaf grade, auctioned by Global Tea Brokers, was bought for ₹291/kg by Vora Sons.

“This is the highest price fetched by this grade ever since manufacturing started in our factory 75 years ago,” Crosshill’s Managing Director, Jagdeep Raju, told BusinessLine.

“Our two other grades, auctioned by Global Tea Brokers, occupied the next two places in the CTC Leaf Tea auctions fetching ₹231 and ₹224. In the CTC Dust tea auctions, our two grades, auctioned by Global Tea Brokers, topped at ₹227 and ₹222. In all, our five grades topped the CTC tea auction,” he said.

Pinewood Estate was the only other CTC factory to get over ₹200/kg with its highest being ₹216/kg.

Among orthodox teas, Chamraj topped at ₹276/kg followed by Kodanad ₹250/kg, Glendale ₹246/kg, Goldsland Select ₹231/kg, Devashola, Nonsuch Orthodox and Lockhart Gold ₹226/kg each, Havukal ₹220/kg, Kairbetta and Lockhart ₹216/kg each, Kil Kotagiri ₹210/kg and Goldsland ₹205/kg.

The market will remain closed for a fortnight for Christmas-New Year celebrations around the world and the first auction for 2021 will be held on January 7.