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When the tea market opened for Sale No: 46 of Coonoor Tea Trade Association auctions after a fortnight closure for Deepavali, there was increased demand from upcountry domestic buyers as well as exporters. This resulted in the average price shooting to ₹100.72 per kg from the pre-Deepavali auction average of ₹97.44. This was the highest average price so far in 2018 and, for the first time since April 21, 2017, the average price has crossed the ₹100/kg mark.
In addition, this was ₹23 more per kg compared to the price fetched this time last year. Despite this, 95 per cent of the offer was sold. Homedale Estate’s Broken Orange Pekoe Fannings leaf grade, auctioned by Global Tea Brokers, topped the CTC market when PS Industries bought it for ₹243 a kg. Homedale Estate’s another leaf grade, auctioned by Global Tea Brokers, followed at ₹220. In the CTC Dust tea auctions, Homedale Estate’s Pekoe Dust, auctioned by Global Tea Brokers, topped at ₹238. Two other grades of Homedale Estate, auctioned by Global Tea Brokers, followed at ₹236 and ₹226. Two grades of Darmona Estate, auctioned by J Thomas and Co., fetched ₹201 each.
Among orthodox teas, Kodanad topped at ₹246 followed by Chamraj ₹240 and Kairbetta₹200.
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