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A volume of 16.50 lakh kg has been catalogued for Sale No: Sale No: 32 of Coonoor Tea Trade Association auctions to be held on Thursday and Friday, reveals an analysis of the brokers’ listings.
It is the lowest offer in nine weeks. It is as much as 2.58 lakh kg less than last week’s offer but 3.20 lakh kg more than the over this time last year.
Of the 16.50 lakh kg on offer, 12.22 lakh kg belongs to the leaf grades and 4.28 lakh kg belongs to the dust grades. As much as 15.74 lakh kg belongs to CTC variety and only 0.76 lakh kg, orthodox variety. In the leaf counter, only 0.44 lakh kg belongs to orthodox while 11.78 lakh kg, CTC. Among the dusts, only 0.32 lakh kg belongs to orthodox while 3.96 lakh kg, CTC.
The offer has fallen because of drought conditions in Kotagiri and Coonoor belts. Of the 16.50 lakh kg coming up for sale, fresh tea accounts for 13.51 lakh kg. As much as 2.49 lakh kg comprises teas which had remained unsold in previous auctions. In the past few weeks, 25 to 35 per cent of the offer had remained unsold.
In the Leaf auction last week, Hindustan Unilever Ltd operated on good medium varieties. Duncans Tea Ltd. and Tata Global Beverages Ltd were fairly active on good medium varieties.
In the Dust auction, HUL was selective. Tata Global was active on good mediums. Duncans chose medium bolder dusts. Indcoserve showed some interest on smaller grades. Exporters chose medium and plainer varieties. There was good demand for brighter liquoring teas from upcountry buyers.
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