Commodities

31% of tea unsold at Coonoor auction

PS Sundar Coonoor | Updated on October 28, 2019

Teas worth ₹5.26 crore remained unsold at Sale No. 43 of the pre-Diwali auctions of Coonoor Tea Trade Association as there were no takers for as much as 31 per cent of the offer.

In the wake of the unprecedented order of the Tea Board to conduct auctions of the three centres in the South — Coonoor, Coimbatore and Kochi — on a single day (Friday), buyers complained their inability to spread their investment in all the centres.

This resulted in inadequate demand ahead of Diwali festival season.

Homedale Estate’s CTC Red Dust tea, auctioned by Global Tea Brokers, topped the auctions when Badhusha Tea Company bought it for ₹268 a kg. This price was higher than the price of export-oriented orthodox variety of corporate teas.

Homedale Estate’s Super Red Dust grade, auctioned by Global Tea Brokers, sold at ₹242 a kg.

In the CTC Leaf tea auctions, Homedale Estate’s tea auctioned by Global Tea Brokers, topped at ₹255.

The highest price among orthodox teas was ₹262 fetched by Chamraj. Nonsuch Orthodox got ₹238, Kodanad ₹235, Kairbetta ₹234 and Glendale ₹226.

Published on October 28, 2019

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