The Sale No: 18 was among the least encouraging auctions held by the Coonoor Tea Trade Association (CTTA) so far this calendar with substantial volume remaining unsold despite the average prices crashing to the year’s lowest.

Following increased arrival of teas from North Indian plantations with the factories re-opening after winter closure, the upcountry demand for teas at the CTTA auctions has been weakening in the last few weeks as these buyers have increased their intake of teas at North Indian auctions themselves.

To encourage better absorption, producers reduced the asking price at this week’s auctions but that led to the average prices crashing to ₹87.38 a kg – the lowest among all the auctions held so far in this calendar. This was some ₹5 less per kg over the previous week.

Despite this, there were no takers for about 39 per cent of the offer which meant that as much as 6.17 lakh kg worth about ₹5.39 crore remained unsold.

The Red Dust tea of Homedale Estate, auctioned by Global Tea Brokers, topped not only the Dust tea auctions but the entire CTC market when Indcoserve bought it for₹226 a kg. Two other Dust grades of Homedale Estate, auctioned by Global Tea Brokers, followed at ₹224 and ₹214.

In the CTC leaf tea auction, Homedale Estate tea, auctioned by Global Tea Brokers, topped at ₹206. Darmona Estate followed at ₹200. All other CTC grades got less than ₹200.

In the orthodox tea market, Kodanad topped at ₹246 followed by Corsley at ₹203.

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