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As much as 45 per cent of the offer remained unsold at Sale No: 15 of Coonoor Tea Trade Association auctions.
About 6.80 lakh kg out of the year's highest offer of 15.11 lakh kg was withdrawn for want of buyers despite shedding Rs 3 a kg.
Consequently, teas worth about Rs 4.64 crore – the highest so far in 2011 – remained unsold reflecting the continued absence of adequate demand arising from lack of promotion.
“Orthodox leaf market eased Rs 2-3 a kg and whole leaf suffered withdrawal. High priced CTC leaf lost Rs 5-10, better mediums Rs 3-5 while plainers suffered heavy withdrawal despite easing Rs 2-4.
High priced CTC dust lost Rs 5-10, better mediums Rs 4-5 with withdrawal and plainers suffered huge withdrawal despite shedding Rs 2-5. Primary orthodox dust, however, gained Rs 1-2”, an auctioneer told Business Line.
Vigneshwar Estate tea, auctioned by Paramount Tea Marketing, topped CTC market at Rs 142 a kg. Homedale Estate got Rs 139, Shanthi Supreme Rs 132, Hittakkal Estate Rs 129 and Professor Rs 125. In all, 46 marks got Rs 100 and more.
Among orthodox teas from corporate sector, Havukal and Corsely got Rs 161 each, Highfield Estate, Chamraj, Quinshola clonal and Tiger Hill clonal Rs 156 each and Curzon Rs 155. In all, 39 marks got Rs 100 and more.
Weak exports
Export purchases were among the weakest of the recent weeks.
Pakistan bought very selectively for Rs 53-72 and the CIS, Rs 48-50 a kg.
Quotations held by brokers indicated bids ranging Rs 58-50 a kg for plain leaf grades and Rs 85-130 for brighter liquoring sorts.
They ranged Rs 48-51 for plain dusts and Rs 85-135 for brighter liquoring dusts.
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