Agri Business

Teas worth ₹3.94 crore remain unsold at Coonoor auctions

P.S. Sundar Coonoor | Updated on March 23, 2020

Teas worth ₹3.94 crore remained unsold at Sale No: 12 of the auctions of Coonoor Tea Trade Association as there were no takers for as much as 36 per cent of the offer.

Homedale Estate’s Broken Pekoe grade, auctioned by Global Tea Brokers (GTB), topped when Nisha Enterprises bought it for ₹313 a kg. Homedale Estate’s Broken Orange Pekoe grade, auctioned by GTB, followed at ₹311.

In the Dust tea auctions, Homedale Estate’s two grades, auctioned by GTB, topped each fetching ₹301.

Among orthodox teas, Kairbetta topped at ₹259 followed by Kodanad ₹240 and Havukal ₹208.

The demand was weak from both the upcountry buyers and exporters.

Upcountry buyers said that movement of tea from Coonoor to far away States has become uncertain due to several restrictions in the wake of action to control Covid-19. They said that North Indian teas have started coming to the market making it easier for them to buy cheaper teas there itself.

Exporters contended that with most countries imposing stringent restrictions in the movement of goods as also assembly of people in market places to prevent the spread of Covid-19, they have very few orders for teas from the Nilgiris.

Published on March 23, 2020

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