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The pre-Diwali auction of Coonoor Tea Trade Association will conclude on Friday. The market will re-open after Diwali holidays on Nov 8.
For this Sale No: 44, a volume of 15.59 lakh kg has been catalogued – as much as 1.68 lakh kg less than the volume offered for last week’s auctions. Producers expect prices to go up in the backdrop of reduced offer and increased demand for the festival season.
The volume on offer is low on all categories. In all, only 9.83 lakh kg belongs to leaf grades and 5.76 lakh kg, dust grades. Collectively, 14.40 lakh kg belongs to CTC variety and only 1.19 lakh kg, orthodox variety. The proportion of orthodox teas continues to be low in both leaf and dust grades. In the leaf counter, only 75,000 kg belongs to orthodox while 9.08 lakh kg, CTC. Among the dusts, only 44,000 kg belongs to orthodox while 5.32 lakh kg, CTC.
Homedale Estate’s Broken Orange Pekoe Fanning grade, auctioned by Global Tea Brokers, topped the entire auctions last week when P S Tea Industries bought it for ₹233 a kg. In the CTC Dust tea auctions, Homedale Estate’s Super Red Dust grade, auctioned by Global Tea Brokers, topped at ₹216. Darmona Estate tea, auctioned by J Thomas and Co., followed at ₹205. Teas from all other factories fetched less than ₹200 a kg.
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