Agri Business

Volume hits 5-week high at Coonoor tea sale

P. S. Sundar Coonoor | Updated on January 11, 2012 Published on January 11, 2012

tea

Following the Tea Board's assurance, warehouse agents who had announced their inability to stock teas meant for Sale No: 2 and beyond of the auctions of Coonoor Tea Trade Association, have withdrawn their stir.

“We are aware of Coonoor warehouses expressing difficulty to stock teas as they have been asked by excise department to pay service tax. If teas are not warehoused, auctions cannot be conducted. So, we are taking up the matter suitably with excise authorities to solve the problem for ever. We are sure that the auctions will go on normally,” Tea Board Chairman, Mr MGVK Bhanu told Business Line.

Arising from this, Sale No: 2 will take place on Thursday and Friday with an offer of 14.90 lakh kg. It is the highest volume of the last five weeks. It is as much as 1.04 lakh kg more than last week's offer and 68,000 kgs more than the offer this time last year.

Of the 14.90 lakh kg on offer, 10.44 lakh kg belongs to the leaf grades and 4.46 lakh kg belongs to the dust grades. As much as 13.66 lakh kg belongs to CTC variety and only 1.24 lakh kg, orthodox variety.

The proportion of orthodox teas continues to be low in both the leaf and dust grades. In the leaf counter, only 0.57 lakh kg belongs to orthodox while 9.87 lakh kg, CTC. Among the dusts, only 0.67 lakh kg belongs to orthodox while 3.79 lakh kg, CTC.

In the 14.90 lakh kg, fresh teas account for 13.88 lakh kg. As much as 1.02 lakh kg comprises teas which had remained unsold in previous auctions.

Following Tea Board announcing its thrust on exports to five countries – the US, Russia, Kenya, Iran and Egypt, producers are anticipating greater participation of exporters to these destinations.

For most part of 2011, it was only Pakistan and Russia which gave export support at Coonoor auctions.

Published on January 11, 2012
This article is closed for comments.
Please Email the Editor