Commodities

37% of Coonoor teas worth ₹5.52 crore unsold

PS Sundar Coonoor | Updated on November 04, 2019 Published on November 04, 2019

Teas worth ₹5.52 crore remained unsold at Sale No. 44 of the post-Diwali auctions of Coonoor Tea Trade Association as there were no takers for as much as 37 per cent of the offer despite the average price falling to ₹78.68 – the lowest so far in 2019.

Buyers complained less cash availability for investment in huge volume at higher prices.

Homedale Estate’s CTC Red Dust tea, auctioned by Global Tea Brokers, topped the entire auctions when Oswal Tea Traders bought it for ₹271 a kg. This price was higher than the price of export-oriented orthodox tea of corporate teas.

In the CTC Leaf tea auctions, Homedale Estate’s tea, auctioned by Global Tea Brokers, topped at ₹244. No other CTC grade entered the high price bracket of ₹200/kg.

The highest price among orthodox teas was ₹263 fetched by Chamraj. Kodanad fetched ₹232, Kairbetta ₹225, Nonsuch Orthodox ₹221 and Glendale ₹205.

Published on November 04, 2019
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