Volume hits 3-week low in Coonoor tea auction

A volume of 20.28 lakh kg has been catalogued for sale 34 of the auctions of Coonoor tea Trade Association (CTTA) to be held on Thursday and Friday.

This is some 74,000 kg less than last week’s offer. It is the lowest volume of the last three weeks.

“The volume has fallen because of a decline in production arising from adverse weather – windy and wet with inadequate sunshine hours – which reduced the harvest of the raw material, the green leaf”, CTTA Chairman L Vairavan told BusinessLine .

Of the 20.28 lakh kg offered for this week’s auctions, as much as 18.85 lakh kg belongs to CTC variety and only 1.43 lakh kg orthodox variety. In the leaf tea counter, only 96,000 kg belongs to orthodox while 14.57 lakh kg, CTC. Among the dust tea, only 47,000 kg belongs to orthodox while 4.28 lakh kg, CTC. In all, 15.53 lakh kg belongs to Leaf grades and 4.75 lakh kg, Dust grades.

“The green tea from Pascoes Woodlands topped the entire auctions last week when Tanmay tea Company bought it for ₹300 a kg”, Ravichandran Broos, General Manager, Paramount Tea Marketing (SI), who auctioned this tea, said.

Among CTC teas, Homedale Estate’s leaf grade, auctioned by Global Tea Brokers, topped when Gujarat Tea Processors and Packers Ltd, bought it for ₹270 a kg. Crosshill Estate Premium and Deepika Supreme got ₹211 a kg each, Vigneshwar Estate ₹206 and Pinewood Estate ₹200.

Quotations with the brokers indicated ₹72-78 a kg for plain Leaf grades and ₹145-21 for the best grades. For plain Dust grades, they ranged ₹72-79 and for the best grades, ₹161-211.

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