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The auctions of Coonoor Tea Trade Association for 2015 have ended on a happy note with prices reaching the highest level in the year.
In the final auctions for 2015, the average prices rose to ₹84.70 a kg – the highest level in 2015. It was about a rupee more than the hitherto highest price recorded last week.
Still, the demand was strong with as much as 93 per cent of the offer being absorbed.
This time last year, prices averaged only ₹69.36 a kg. They, however, rose to ₹71.83 in January but nosedived to ₹63.03 in May. Till September, average price did not touch even ₹70 a kg. On Oct 8, average price rose to ₹71.04. From then, prices have been on the rise almost every week. In the first sale of this month which ended on December 4, average price rose to ₹80.35.
Three grades of Crush-Tear-Curl (CTC) tea entered high-price bracket of ₹200 per kg in the year’s final auction. The Super Red Dust of Darmona Estate, auctioned by Paramount Tea Marketing, topped the dust tea auction and the entire CTC market when Sree Sai Corporation bought it for ₹216 a kg. Closely following this was Homedale Estate’s Red Dust, auctioned by Global Tea Brokers, at ₹215. Vigneshwar Speciality Super Red Dust, auctioned by Paramount Tea Marketing, was bought by Sree Sai Corporation for ₹213 a kg.
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