Agri Business

Coonoor tea auctions postponed

PS Sundar Coonoor | Updated on May 07, 2020

The disturbance to the conduct of auctions by Coonoor Tea Trade Association (CTTA) continued on Thursday resulting in the postponement of Sale No: 19.

The CTTA had earlier announced that from Sale No: 19, the already announced auction schedule would be followed.

“However, disturbance arose due to the strike call by truck drivers and tea chest lifters seeking protection against Covid-19 spread. Consequently, samples did not reach the buyers at Coimbatore,” CTTA Vice-Chairman L Vairavan told BusinessLine on Thursday.

“So, we had requests from buyers to postpone the auction scheduled for Thursday. Also, by now, we notice that the authorities are taking some steps to resolve the issue regarding loading and transportation. Hence, we have decided to postpone Sale No: 19 by just a day,” he said.

“Accordingly, Leaf tea auction will be conducted from 9 am to 5.19 pm on Friday and Dust tea auction from 9 am to 1.04 pm on Saturday,” he disclosed.

In all, 20.41 lakh kg has been catalogued – as much as 7.09 lakh kg more than the offer for Sale No: 18 held on May 2.

Homedale Estate’s Red Dust grade, auctioned by Global Tea Brokers, topped the entire auctions in the last Sale when Oswal Tea Traders bought it for ₹281 a kg. Homedale Estate’s another Red Dust grade, auctioned by Global Tea Brokers, closely followed at ₹280. These two grades surpassed the prices fetched by any other tea, CTC or orthodox, from any factory, corporate or bought leaf, in this auction. In the CTC Leaf tea auction, two grades of Pinewood Estate topped each fetching ₹200.

Quotations with the brokers indicated ₹86-92 a kg for plain Leaf grades and ₹125-200 for the best grades. For plain Dust grades, they ranged ₹85-92 and for the best grades, ₹137-280.

“From Sale No: 20, the auctions will be conducted as per schedule,” Vairavan said.

Published on May 07, 2020

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