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Exporters who refrained from buying at the auctions of the Teaserve and Coonoor Tea Trade Association last week participated in the Teaserve auction on Wednesday deciding to ‘wait-and-watch’ the developments regarding their demand for changes in the billing pattern. Consequently, nearly 63 per cent of 6.78 lakh kg on offer at Teaserve auction on Wednesday was bought with prices averaging ₹55-59 a kg.
Some exporters said that they would take this line of action at Sale No: 29 of CTTA auction on Thursday and Friday as well when 22.59 lakh kg has been catalogued. Brokers are also coming out with supplementary catalogues to reoffer teas remaining unsold in previous weeks.
Of the 22.59 lakh kg, a volume of 15.74 lakh kg belongs to the leaf grades and 6.85 lakh kg belongs to the dust grades. As much as 21.18 lakh kg belongs to CTC variety and only 1.41 lakh kg, orthodox variety. In the leaf counter, only 91,000 kg belongs to orthodox while 14.83 lakh kg, CTC. Among the dusts, only 50,000 kg belongs to orthodox while 6.35 lakh kg, CTC.
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