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The falling trend witnessed in the offer for the auctions of Coonoor Tea Trade Association continues sharply with the volume being offered for Sale No: 14 which will conclude on Friday crashing to eight-week low.
A volume of 9.56 lakh kg has been catalogued. This is some 59,000 kg less than last week’s offer.
Of this, 6.55 lakh kg belongs to leaf grades and 3.01 lakh kg, dust grade. As much as 8.72 lakh kg belongs to CTC variety and only 84,000 kg, orthodox variety. The proportion of orthodox teas continues to be low in both leaf and dust grades. In the leaf counter, only 39,000 kg belongs to orthodox while 6.16 lakh kg, CTC. Among the dusts, only 45,000 kg belongs to orthodox while 2.56 lakh kg, CTC.
Homedale Estate’s Broken Pekoe, auctioned by Global Tea Brokers, topped the Leaf auction and the entire CTC market last week when Ketti Valley Tea India Pvt Ltd bought it for ₹201 per kg. Vigneshwar Speciality’s Broken Orange Pekoe Fanning came close at ₹200/kg. These were the only two CTC grades which crossed ₹200/kg as buyers showed resistance to pay high prices. Darmona Estate’s Super Red Dust topped the Dust auction fetching ₹193.
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