Commodities

97% tea sold at Coonoor tea auctions

P S SUNDAR Coonoor | Updated on August 19, 2020

The rising trend witnessed in the average price at the auctions of Coonoor Tea Trade Association for over a month now continued at sale 33 with the average price soaring to a new all-time high record of ₹167.69 a kg – as much as ₹18 more per kg in just one week.

Nevertheless, about 97 per cent of the offer was sold because of increased demand from upcountry buyers. Floods in Assam, West Bengal and Kerala affecting the supply of teas from these States and the relaxation of lockdown in some States besides a general improvement in quality helped prices to rise.

Among Orthodox teas, two grades of High Cliff Factory, auctioned by Paramount Tea Marketing P Ltd., topped the entire auctions when Nisha Enterprises bought them for ₹403 a kg each.

Kodanad got ₹272, Kairbetta ₹268, Devashola ₹231, Glendale ₹226, Nonsuch orthodox ₹224, Lockhart and Siruvani ₹211 each, Kil Kotagiri ₹210, Havukal ₹206 and Goldsland ₹201.

In the CTC market, Lakshmi Estate tea, auctioned by Paramount Tea Marketing Pvt Ltd., topped when Tea Services India Pvt Ltd bought its Pekoe Dust tea for ₹319 a kg.

Homedale Estate’s Red Dust grade, auctioned by Global Tea Brokers, fetched ₹311 a kg and these two were the only CTC teas to fetch beyond ₹300 a kg.

In the CTC Leaf auction, Cross Hill Estate’s two grades, auctioned by Global Tea Brokers, topped at ₹291 and ₹290 each.

Pinewood Estate got ₹276, Vigneshwar Estate ₹262, Kannavarai Estate ₹245, Bellati Estate ₹233, Riverside Estate ₹232, Palmira Estate ₹231, Deepika Supreme and Professor Super Fine ₹230 each.

Published on August 19, 2020

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