A volume of 14 lakh kg will be offered at sale no: 50 of Coonoor Tea Trade Association auctions to be held tomorrow and Friday, reveals an analysis of brokers' listing.

It is the lowest volume of the last five weeks. It is 23,000 kg less than last week's offer but 43,000 kg more than the offer this time last year.

Of the 14 lakh kg on offer, 10.32 lakh kg belongs to the leaf grades and 3.68 lakh kg belongs to the dust grades. As much as 12.98 lakh kg belongs to CTC variety and only 1.02 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 0.51 lakh kg belongs to orthodox while 9.81 lakh kg, CTC. Among the dusts, only 0.51 lakh kg belongs to orthodox while 3.17 lakh kg, CTC.

In the 14 lakh kg, fresh teas account for 11.01 lakh kg. As much as 2.99 lakh kg comprises teas which had remained unsold in previous auctions. In the last few weeks, 24 to 35 per cent of the offer of the various grades had remained unsold despite shedding prices by Rs 2-3 a kg reflecting the absence of adequate promotion to activate the demand.

There is only one more auction this year. The cumulative turnover till November had increased by 9.16 per cent over the same period of last year. In January-end, turnover was 2.33 per cent less than January 2010. By February-end, the shortfall had increased to 3.92 per cent, to 4.68 per cent by March-end and 5.23 per cent by April-end before falling to 1.87 per cent by May end. Only by June end, the turnover rose over last year – by 5.67 per cent. By July-end, it rose further to 7.62 per cent and by August-end to 8.53 per cent before dropping to 8.29 per cent by September end but increasing to 8.78 per cent by October end. Now, the cumulative turnover has increased by 9.16 per cent.

Related Topics
comment COMMENT NOW