Agri Business

Lakshmi Estate sets new price record at Coonoor tea auctions

PS Sundar Coonoor | Updated on September 08, 2020

Two bought leaf tea factories triumphed at Sale No 36 of the Coonoor Tea Trade Association (CTTA) auctions.

“The broken pekoe grade of ‘Lakshmi Estate’ topped the CTTA auctions when Santhosh Tea Industries Ltd bought it for ₹350 a kg”, Ravichandran Broos, General Manager, Paramount Tea Marketing Pvt Ltd, who auctioned this variety, told BusinessLine.

“More importantly, this has set a record, being the highest price in all the South Indian auctions this week across all categories and grades,” he observed.

“By virtue of this, we have broken our own earlier record of ₹327 a kg, set up last week,” said H Kannan, Managing Partner of Bengal View (N) Estate Tea Factory, which owns the ‘Lakshmi Estate’ mark.

“This is a new record as it is the highest price fetched by any of our teas since manufacturing started in our factory in 1965,” Kannan claimed.

“The Coonoor-based Homedale Tea Factory, which has been consistently fetching high prices in the auctions over the years, got the second highest price of ₹311 a kg”, Rajesh Gupta, Managing Director, Global Tea Brokers, who auctioned this tea, said.

“Two grades of Homedale Estate topped the dust tea auctions, fetching ₹306 and ₹301 a kg respectively”, he said.

“Two leaf grades of Homedale Estate fetched ₹301 and 300 a kg. In all, five grades of Homedale Estate fetched ₹300 and more, per kg”, he disclosed.

These were the only teas which entered ₹300-per kg bracket, and hence topped the auctions this week beating the prices of all other teas, CTC or orthodox, from any factory, bought leaf or corporate.

Published on September 08, 2020

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