Commodities

Coonoor tea auction volume drops further

PS Sundar Coonoor | Updated on July 31, 2019 Published on July 31, 2019

The falling trend witnessed in the volume coming up for the auctions by Coonoor Tea Trade Association in the past few weeks continued this week with the volume dropping to 17.05 lakh kg for Sale 31 to be held on Thursday and Friday.

This is as much as 2.14 lakh kg less than last week’s offer.

Of the 17.05 lakh kg offered, as much as 15.89 lakh kg belongs to CTC variety and only 1.16 lakh kg to orthodox variety. The proportion of orthodox teas continues to be low in both leaf and dust grades. In the leaf counter, only 74,000 kg belongs to orthodox while 10.78 lakh kg to CTC. Among the dusts, 42,000 kg belongs to orthodox and 5.11 lakh kg to CTC. In all, 11.52 lakh kg belongs to Leaf grades and 5.53 lakh kg to Dust grades.

Among the bought leaf factories selling CTC teas, only Homedale Tea Factory could enter the high-price bracket of ₹200/kg last week. Broken Orange Pekoe Small grade, auctioned by Global Tea Brokers, topped the entire CTC market when Shreeji Traders bought it for ₹269 a kg. Homedale Pekoe Dust grade, auctioned by Global Tea Brokers, topped the CTC Dust market fetching ₹258 a kg.

Quotations with the brokers indicated ₹62-72 a kg for plain Leaf grades and₹104-124 for the best grades. For plain Dust grades, they ranged ₹66-72 and for the best grades, ₹100-116.

Published on July 31, 2019
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