Commodities

Auction offer rises to three-month high

P S SUNDAR Coonoor | Updated on October 16, 2021

Includes teas unsold in previous auctions

When the market re-opens on Saturday after the Pooja holidays, a volume of 24.70 lakh kg is being offered for Sale No 41 of the auctions of Coonoor Tea Trade Association. This is around 56,000 kg more than last week’s offer and it is the highest volume of the last three months, the previous high being 24.86 lakh kg on July 16.

This week’s offer includes some teas which remained unsold in the previous weeks.

Of the 24.70 lakh kg offered for this week’s auctions, as much as 22.62 lakh kg belongs to CTC variety and only 2.08 lakh kg orthodox variety. The proportion of orthodox teas continues to be low in both leaf and dust grades. In the leaf tea counter, only 1.47 lakh kg belongs to orthodox while 16.32 lakh kg is of CTC variety. Among the dust tea, only 61,000 kg belongs to orthodox while 6.30 lakh kg is CTC. In all, 17.79 lakh kg belongs to leaf grades and 6.91 lakh kg of dust grades.

Also read: Tea board fixes ₹14.74/kg average price for October

Homedale Estate’s CTC Red Dust grade, auctioned by Global Tea Auctioneers Pvt Ltd (GTAPL), topped the entire auctions last week when Tea Services India Pvt Ltd., bought it for ₹361 a kg. Homedale Estate’s CTC Pekoe Dust grade, auctioned by GTAPL, followed at ₹356 a kg. These were the only two grades which fetched over ₹300/kg. In the CTC Leaf tea auctions, Homedale Estate’s Broken Orange Pekoe Fanning grade, auctioned by GTAPL, topped at ₹ 277. Among other CTC teas, Crosshill Estate Premium got ₹ 226, Vigneshwar Estate ₹ 218 and Pinewood Estate ₹ 202.

Quotations with the brokers indicated ₹ 72-77 a kg for plain Leaf grades and ₹ 121-160 for the best grades. For plain dust grades, they ranged ₹65-72 and for the best grades, ₹145-189.

Published on October 15, 2021

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