Commodities

Homedale fetches record price at Coonoor tea sale

P. S. Sundar Coonoor | Updated on June 26, 2011

Coonoor   -  BusinessLine





Homedale tea created a new record at Sale No: 25 of the auctions of Coonoor Tea Trade Association when its Red Dust grade topped the CTC market.

“This tea, auctioned by Global Tea Brokers, was bought by Paras Tea Co., for Rs 160 a kg. It is the highest price fetched by our teas since manufacture started in our factory 60 years ago”, Homedale Managing Partner, Mr Prashant Menon, told Business Line.

Vigneshwar Estate got Rs 141, Shanthi Supreme Rs 137 and Hittakkal Estate Rs 136. In all, 80 marks got Rs 100 and more.

Orthodox

Among orthodox teas from corporate sector, Chamraj got Rs 190, Corsely and Havukal Rs 148 each, Kairbetta Rs 146 and Sutton Rs 140. In all, 31 marks got Rs 100 and more.

Among green tea, Wood Bridge Estate's ‘Hyson' grade, auctioned by Paramount Tea Marketing, fetched Rs 216 and ‘super fine' grade, Rs 210.

Buoyant mood

For the third consecutive week, jubilant mood prevailed with 88 per cent of the year's second highest offer of 16.20 lakh kg being sold at Rs 3 a kg more than previous week on the average.

Overall, 92.87 per cent of the leaf and 83.33 per cent of the dust offer were sold.

“CTC leaf gained up to Rs 3. Cleaner, blacker fannings received impressive demand. Orthodox leaf market was irregular. CTC dusts fetched Rs 2-3 more. Orthodox dusts gained up to Rs 3 a kg”, an auctioneer said.

exports

Forceful export competition continued. Pakistan gave strong support in wide range – Rs 41-76 a kg, the CIS Rs 42-64 and European markets Rs 49-74.

Quotations held by brokers indicated bids ranging Rs 38-43 a kg for plain leaf grades and Rs 80-135 for brighter liquoring sorts.

They ranged Rs 43-47 for plain dusts and Rs 85-136 for brighter liquoring dusts.

Published on June 26, 2011

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