Agri Business

Teas worth ₹5 crore unsold at Coonoor auctions

P S SUNDAR Coonoor | Updated on October 19, 2020

Teas worth ₹ 4.91 crore remained unsold at Sale 42 of the auctions of Coonoor Tea Trade Association as there were no takers for as much as 17 per cent of the offer.

For the fifth consecutive week, upcountry buyers showed resistance to bid contending that prices had been rising enormously in the last few weeks. Some trade bodies have urged the Government to take a soft action towards imports in an effort to tame the prices of indigenous teas in the auctions.

Consequently, huge volume remained unsold despite the average prices falling to ₹ 145.26 a kg – the lowest level since July 24.

Homedale Estate’s Broken Orange Pekoe grade, auctioned by Global Tea Brokers, topped the entire auctions when Tea Services India Pvt Ltd., bought it for ₹ 301 a kg. Homedale Estate’s Broken Pekoe grade followed it at ₹ 281 in the Leaf tea auctions.

In the CTC Dust tea auctions, Homedale Estate’s three grades, auctioned by Global Tea Brokers, topped at ₹ 282, ₹ 266 and ₹ 250, respectively.

Darmona Estate got ₹ 226, Shanthi Supreme ₹ 221, Bellati Estate ₹ 220, Pinewood Estate ₹ 217, Vigneshwar Estate ₹ 216, Kannavarai Estate ₹ 202, Deepika Supreme ₹ 201 and Waver Tree ₹ 200.

Among orthodox teas, Kodanad topped at ₹ 221, followed by Glendale ₹ 217, Nonsuch Orthodox ₹ 212, Kairbetta ₹ 205, Lockhart ₹ 203, Devashola ₹ 201, Havukal and Kil Kotagiri ₹ 200 each.

Published on October 19, 2020

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