Volume hits 3-week high at Coonoor tea auctions

After hitting six-week low volume last week, the offer for sale 45 of the auctions of Coonoor Tea Trade Association to be held on Thursday and Friday has posted a significant increase.

A volume of 21.22 lakh has been catalogued. This is the highest volume in three weeks. It is as much as 2.68 lakh kg more than the offer for last week.

With 25 to 47 per cent of the offer in the last one month remaining unsold, this week’s offer includes some teas which were withdrawn in the previous weeks.

Of the 21.23 lakh kg offered for this week’s auctions, as much as 20.01 lakh kg belongs to CTC variety and only 1.21 lakh kg orthodox variety. In the leaf tea counter, only 82,000 kg belongs to orthodox while 15.04 lakh kg, CTC. Among the dust tea, only 39,000 kg belongs to orthodox while 4.97 lakh kg, CTC. In all, 15.86 lakh kg belongs to Leaf grades and 5.36 lakh kg, Dust grades.

Three CTC grades of bought leaf factory, Homedale Tea Factory, auctioned by Global Tea Auctioneers Private Ltd (GTAPL), created price records last week topping the entire auctions beating even the export-oriented orthodox teas from corporates. Homedale Red Dust grade, auctioned by GTAPL, topped the entire auctions when Santhosh Tea Traders bought it for ₹348 a kg. Homedale Pekoe Dust grade and Homedale Super Red Dust grade, auctioned by GTAPL, followed at ₹329 and ₹316 a kg, respectively. These were the only teas which crossed the ₹ 300/kg mark in the entire auctions among any tea – CTC or orthodox –, of any grade – CTC or orthodox –, from any factory – bought leaf or corporate. In the CTC Leaf tea auction, Homedale Estate’s Broken Orange Pekoe grade, auctioned by GTAPL, topped fetching ₹250. All other CTC Leaf and Dust grades fetched below ₹200/kg.

Quotations with the brokers indicated ₹68-73 a kg for plain Leaf grades and ₹135-140 for the best grades. For plain Dust grades, they ranged ₹61-69 and for the best grades, ₹131-170.

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