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February has begun on a better note for tea trade in The Nilgiris as the earnings at the first auction for the month conducted by Coonoor Tea Trade Association rose to ₹16.35 crore from ₹13.90 crore in the last auction of January.
This means, the earnings increased by ₹2.45 crore in just one week – in the first auction after the Budget was presented.
This happened because 12.19 lakh kg was sold against 10.51 lakh kg in the previous week despite the average price rising to ₹ 134.11 per kg from ₹ 133.25 in end January.
After two weeks, price crossing ₹ 300/kg was noticed. The Red Dust grade tea of bought leaf factory Homedale Estate, auctioned by Global Tea Brokers, topped the entire auctions this week when Dhruv Enterprises bought it for ₹ 301 per kg.
Among other CTC teas, Pinewood Estate got ₹ 270, Crosshill Estate Special ₹ 250, Bellatti Estate ₹ 226, Riverside Estate ₹ 214, Hittakkal Estate ₹ 208 and Deepika Supreme ₹ 203.
Among orthodox teas, Kairbetta and Kodanad topped at ₹ 256 a kg each, Havukal ₹ 245, Glendale ₹ 236, Devashola and Narikkal Estate ₹ 226 each, Kil Kotagiri ₹ 223, Mailoor ₹ 221, Nonsuch Orthodox ₹ 206 and Siruvani ₹ 202.
Nearly 90 per cent of the offer was sold.
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