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About 12.48 lakh kg will be offered at Sale No: 51 of Coonoor Tea Trade Association auctions to be held on Thursday and Friday, reveals an analysis of brokers' listing.
It is the lowest volume in the last 13 weeks. It is as much as 1.52 lakh kg less than last week's offer but 69,000 kg more than the offer this time last year.
Of the 12.48 lakh kg on offer, 8.90 lakh kg belongs to the leaf grades and 3.58 lakh kg belongs to the dust grades. As much as 11.58 lakh kg belongs to CTC variety and only 0.90 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 0.44 lakh kg belongs to orthodox while 8.46 lakh kg, CTC. Among the dusts, only 0.46 lakh kg belongs to orthodox while 3.12 lakh kg, CTC.
In the 12.48 lakh kg, fresh teas account for 10.03 lakh kg. As much as 2.45 lakh kg comprises teas that were 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.
This is the last auction for 2011. The market will remain closed from December 23 for Christmas and New Year celebrations. It will reopen only in the first week of January 2012 and trading sources told Business Line that the first auction for 2012 is likely to be held on January 5.
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