Select buying by blenders hit tea prices in Coonoor auctions

Selective buying by blenders has hit tea prices especially orthodox leaves in Coonoor Tea auctions, with an average price drop of ₹2 to ₹3 per kg.

Traders said that major blenders preferred to opt out of the auctions, while the trading witnessed an improvement in offered quantities in sale 18.

Thanks to widespread rains in production centres, traders are expecting more quantities in the ensuing auction.

In CTC leaf, high-priced and better liquoring sorts had less demand and sold lower by ₹6 to ₹8 with fair withdrawals. The better medium sorts was also lower by ₹3 to ₹4. The mediums and plainer sorts witnessed a price drop by ₹3 to ₹4, Global Tea Auctioneers said.

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• Also read: Subdued buying hits tea prices in Coonoor auctions 

In leaf orthodox, primary whole leaf grades were barely steady to occasionally dearer by ₹2 to ₹3 in line with quality.

In dust CTC, high-priced and better liquoring sorts were lower by ₹6 to ₹8. The better medium sorts had less demand and sold easier by ₹4 to ₹5. Generally less demand was noticed in the overall CTC dust sale.

The primary orthodox dust grades were generally lower by ₹4 to ₹5 and occasionally some quality lots sold dearer by ₹5 to ₹6.

The quantity offered in leaf grades was 10,04,571 kg with a sales percentage of 86 per cent. In dust offerings, the figure was 4,15,377 with a sale of 76 per cent. In dust grades, Homedale Estate-RD fetched the highest price at ₹317.

• Also read: Overseas buying boosts leaf tea prices at Kochi auctions

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