Teas worth ₹4.54 crore remained unsold at Sale No. 42 of the auctions of Coonoor Tea Trade Association as there were no takers for as much as 31 per cent of the offer.
The lack of demand in high-priced teas ahead of Diwali season resulted in not a single grade of CTC entering the high-price bracket of ₹200/kg.
Some buyers attributed their sluggish bidding to the inadequate fund flow at this part of the year.
The orthodox teas fared relatively better, with Chamraj topping at ₹249 followed by Kairbetta ₹246 and Nonsuch Orthodox at ₹216.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.