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A volume of 11.26 lakh kg will be offered for Sale No: 12 of the auctions of Coonoor Tea Trade Association (CTTA) to be conducted tomorrow and Friday, reveals an analysis of the listing by brokers.
It is 69,000 kg less than last week's offer. But, it is as much as 3.52 lakh kg less than the offer this time last year.
Of the 11.26 lakh kg on offer, 8.01 lakh kg belongs to the leaf grades and 3.25 lakh kg belongs to the dust grades. As much as 10.51 lakh kg belongs to CTC variety and only 0.75 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 0.40 lakh kg belongs to orthodox while 7.61 lakh kg, CTC. Among the dusts, only 0.35 lakh kg belongs to orthodox while 2.90 lakh kg, CTC.
In the 11.26 lakh kg, fresh tea accounts for 9.79 lakh kg and 1.47 lakh kg comprises teas remaining unsold in previous auctions. Last week, about 33 per cent of the offer remained unsold due to inadequate demand. Shipments to Japan have come to a standstill after tsunami disaster there. Even companies which have entered into direct export agreement are facing difficulty to honour commitments.
This is in addition to the stagnancy faced in shipments to West Asia and North African markets due to internal unrest.
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