Agri Business

Rains disturb tea delivery schedule

PS Sundar Coonoor | Updated on November 23, 2021

File photo: Representative image   -  PTI

This week’s auction earnings nosedive to 7-week low

The earnings at Sale No: 46 of the auctions of Coonoor Tea Trade Association (CTTA) crashed to ₹13.79 crore – the lowest of the last seven weeks. This happened because although there was an improvement in price, the volume sold was dismally low.

In the context of disturbances in supplies from various origins due to the torrential rains, upcountry buyers preferred to build stocks. “We showed keener interest to stock high-priced quality CTC Dust teas so that retail business would be buoyant. Value, rather than volume, is our concern now. Torrential rains have distorted delivery schedule due to hindrances in transport from far away South,” a Delhi-based buyer told BusinessLine.

Reflecting this trend, better liquoring CTC Dust teas at CTTA auctions received fair demand and were dearer by ₹3 a kg. Overall, average prices rose to ₹92.81 a kg – the highest of the last nine weeks. However, the high prices pulled down the volume sold to 14.86 lakh kg – the lowest of the last seven weeks. Exporters were selective.

The bought-leaf factory Homedale Tea Factory created top notch sales when three of its CTC Dust grades, auctioned by Global Tea Auctioneers Private Ltd (GTAPL), fetched over ₹300/kg. Of them, Homedale Red Dust grade, auctioned by GTAPL, topped the entire auctions when Tea Services India Pvt Ltd, bought it for ₹350 a kg. Homedale Pekoe Dust grade and Super Red Dust grade, auctioned by GTAPL, followed at ₹335 and ₹325 respectively.

In the CTC Leaf tea auctions, Homedale Broken Pekoe, auctioned by GTAPL, topped at ₹280. Among other CTC teas, Crosshill Estate Special got ₹270, Pinewood Estate ₹257 and Vigneshwar Estate ₹214. Among orthodox teas, Kodanad got ₹266, Chamraj ₹235 and Kairbetta ₹220. Kodanad green tea got ₹200. Overall, nearly 88 per cent of the offer was sold.

Published on November 23, 2021

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