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The average price at the auctions of Coonoor Tea Trade Association (CTTA) has risen as much as 124.13 per cent in the last one year.
At the latest sale 37, the average price rose to ₹192.35 a kg from ₹85.82 this time last year. This marked a whopping increase of ₹106.53 a kg or 124.13 per cent.
Floods in some tea producing States including Assam, West Bengal and Kerala have restricted the flow of leaves from the factories there to the market. On the other hand, the easing of the lockdown has brought traders back to business in many States. Collectively, the upcountry buyers are sourcing more teas from the South and have discovered that they get quality teas from The Nilgiris at affordable price and these factors have helped prices at CTTA auctions to rise.
Hence, despite the massive price increase, nearly 85 per cent of the offer was bought.
Homedale Estate’s Red Dust grade, auctioned by Global Tea Brokers, topped the entire auctions when Nilgiri Greens And Company bought it for ₹306 a kg.
Homedale Estate’s Pekoe Dust grade, auctioned by Global Tea Brokers, followed it with ₹299.
In Leaf tea auctions, Lakshmi Estate’s Broken Orange Pekoe grade, auctioned by Paramount Tea Marketing Pvt Ltd., topped when Santhosh Tea Industries bought it for ₹300 a kg.
Among other CTC teas, Pinewood Estate got ₹281, Kannavarai Estate ₹269, Cross Hill Estate Special ₹261, Shanthi Supreme ₹258 and Vigneshwar Estate ₹257.
Among orthodox teas, Kodanad got ₹280, Glendale ₹255, Chamraj and High Cliff Orthodox ₹251 each, Devashola ₹246, Kairbetta ₹242, Siruvani ₹241, Nonsuch Orthodox ₹227, Kil Kotagiri and Mailoor ₹226 each, Havukal ₹221, Goldsland ₹220, Erinkadu ₹219, Kotada ₹215 and Brookelands Gold ₹200.
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