Agri Business

Over 85% sold at special tea auction

PS Sundar Coonoor | Updated on June 22, 2021

All-time high price records created

At the Second auction conducted by Coonoor Tea Trade Association (CTTA) to mark the International Tea Day (ITD) as part of celebrations with the Tea Board, some price records were set up.

“All teas sold in this auction were produced with the green leaf harvested on ITD (May 21). In all, 4,043 kg was offered of which, 3,468 kg was sold. This meant that about 85.78 per cent of the offer was sold. The average price was ₹222.04 a kg,” CTTA Chairman L Vairavan, told BusinessLine.

“Some all-time high price records were also created,” he said.

“The Silver Needles excel (₹ 16,400 a kg) and Silver Needles special (₹15,300 a kg) of Avataa Beverages bought by Shree Ganesh Tea Trading Co., have become all-time high prices for any tea from any factory in any auction anywhere in South India so far,” Ravichandran Broos, General Manager, Paramount Tea Marketing (SI) P Ltd., who auctioned the teas, said.

Among orthodox teas, Havukal tea, auctioned by J Thomas and Co Pvt Ltd., topped when Siewert and Dholakia Overseas Pvt Ltd., bought it for ₹1,510 a kg. Kodanad Speciality Tea got ₹531.

Darmona Estate’s Red Dust, auctioned by Paramount Tea Marketing (SI) P Ltd., topped the CTC teas on offer when Nisha Enterprises bought it for ₹415 a kg. “This is a record price for us because it is the highest price fetched for any grade of our teas since manufacturing started in our factory 37 years ago,” Darmona’s Managing Partner Dinesh Raju said.

Homedale Estate’s Broken Pekoe, auctioned by Global Tea Brokers, topped the CTC Leaf teas on offer when Shree Ganesh Tea Trading Co., bought it for ₹411 a kg. “Since manufacturing started in our factory 72 years ago, this is the highest price fetched for any grade of our teas,” Homedale’s Managing Partner Raman Menon said.

Published on June 22, 2021

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