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Exporters refrained from buying at Sale No: 28 of Coonoor Tea Trade Association auctions last week, expressing difficulty to pay value-added tax and then wait for refund. They contend that huge sums paid as VAT are yet to be reimbursed. Some domestic buyers also supported their stand.
Consequently, only 45 per cent of the year’s highest offer of 23.36 lakh kg was sold. Tea worth ₹8.85 crore remained unsold. Average prices, however, rose by a ₹1/kg.
Homedale Estate tea, auctioned by Global Tea Brokers, topped the CTC market with Gujarat Tea Processors and Packers Ltd buying it for ₹190 a kg. Vigneshwar Estate and Deepika Supreme got ₹179 each, Hittakkal Estate ₹178 and Shanthi Supreme ₹176. In all, 100 marks got ₹125 and more per kg.
Among orthodox teas, Kairbetta got ₹225, Chamraj ₹216 and Corsley ₹202. In all, 27 marks got ₹125 and more a kg.
Quotations held by brokers indicated bids ranging ₹44-48 a kg for plain leaf grades and ₹100-160 for brighter liquoring sorts. They ranged ₹48-52 for plain dusts and ₹120-175 for brighter liquoring dusts.
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