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A volume of 18.91 lakh kg has been catalogued for sale 49 of the auctions of Coonoor Tea Trade Association to be held on Thursday and Friday.
It is some 7,000 kg less than the offer of last week and is among the lowest volumes of the recent many weeks.
This volume includes some teas which had remained unsold in previous auctions. Fresh tea arrival continues to be low.
Because of torrential rains in the last fortnight, workers could not harvest tea leaves on time resulting in lower manufacture and arrival of black to the the auctions.
Of the 18.91 lakh kg offered for this week’s auctions, as much as 17.74 lakh kg belongs to CTC variety and only 1.17 lakh kg orthodox variety. The proportion of orthodox teas continues to be low in both leaf and dust grades.
In the leaf tea counter, only 76,000 kg belongs to orthodox while 13.75 lakh kg, CTC. Among the dust tea, only 41,000 kg belongs to orthodox while 3.99 lakh kg, CTC. In all, 14.51 lakh kg belongs to Leaf grades and 4.40 lakh kg, Dust grades.
“Market for CTC Dust teas last week continued to be stronger for the second consecutive week as teas were trading at steady to firm levels across all grades and categories. Besides, the blacker and cleaner types appreciated further in prices”, M Ravichandran Broos, Vice-President, Paramount Tea Marketing (SI) P Ltd, told BusinessLine .
This was reflected in the prices at the market. Homedale Estate CTC Red Dust grade, auctioned by Global Tea Auctioneers Pvt Ltd (GTAPL) topped the entire auctions when Jaykay Enterprises bought it for ₹362 a kg.
Closely following this, Homedale Estate Pekoe Dust grade, auctioned by GTAPL, was bought by Tea Services India Pvt Ltd for ₹361 a kg. Another CTC Dust grade – Crosshill Estate Special’s Pekoe Dust – auctioned by GTAPL, followed at ₹301. These were the only grades which crossed ₹300/kg level in the entire auctions. In the CTC leaf tea auctions, two grades of Crosshill Estate special, auctioned by GTAPL, topped at ₹261 and ₹260 each.
Among other CTC teas, Pinewood Estate got ₹255 and Vigneshwar Estate ₹236.
Quotations with the brokers indicated ₹75-80 a kg for plain Leaf grades and ₹144-183 for the best grades. For plain Dust grades, they ranged ₹60-78 and for the best grades, ₹151-191.
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