Agri Business

Coonoor tea offer hits 8-week high

P S Sundar Coonoor | Updated on September 26, 2012

A volume of 13.44 lakh kg has been catalogued for Sale No: 39 of Coonoor Tea Trade Association auctions to be held on Thursday and Friday, reveals an analysis of brokers’ listing.

It is the highest offer in the last eight weeks – about 96,000 kg more than last week’s offer and 85,000 kg more than the offer this time last year.

Of the 13.44 lakh kg on offer, 9.71 lakh kg belongs to the leaf grades and 3.73 lakh kg belongs to the dust grades.

As much as 12.62 lakh kg belongs to CTC variety and only 0.82 lakh kg, orthodox variety. In the leaf counter, only 0.43 lakh kg belongs to orthodox while 9.28 lakh kg, CTC. Among the dusts, only 0.39 lakh kg belongs to orthodox while 3.34 lakh kg, CTC.

The substantial portion of this volume comprises fresh teas totalling 12.63 lakh kg. Only about 81,000 kg comprises teas which had remained unsold in previous auctions.

Last week, the turnover fell by as much as Rs 1.89 crore or 20.34 per cent over the previous week because about 30 per cent of the offer remained unsold due to inadequate domestic and export demand.

This week, upcountry buyers are planning to pick higher volume from Coonoor because the floods in Assam have obstructed the movement of tea from there.

In the leaf tea auction, Hindustan Unilever Ltd (HUL) bought good medium varieties.

Tata Global Beverages Ltd and Godfrey Philips India Ltd were selective.

Duncans Tea Ltd showed interest on better medium brokens.

In the dust tea auction, HUL and Godfrey Philips were selective.

Tata Global bought better medium smaller grades. Duncans Tea did not operate.

Published on September 26, 2012

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