Commodities

Coonoor tea auction volume falls further

PS Sundar Coonoor | Updated on January 30, 2019

The falling trend seen in the past few weeks in the volume coming up for the auctions of Coonoor Tea Trade Association continues this week when the last Sale for January (Sale No: 5) will take place on Thursday and Friday. Only 12.99 lakh kg has been catalogued for this Sale.

It is some 13,000 kg less than the offer for last week’s sale but this would mean that the volume has fallen over six lakh kg in the last fortnight. Besides, this is the lowest volume in the past many weeks.

Harsh winter conditions including frost attack in many low-lying areas have reduced the harvest of green leaf and hence the supply of the manufactured black tea.

Of the 12.99 lakh kg, as much as 11.83 lakh kg belongs to CTC variety and only 1.16 lakh kg, orthodox variety. The proportion of orthodox teas continues to be low in both leaf and dust grades. In the leaf counter, only 73,000 kg belongs to orthodox while 7.41 lakh kg, CTC. Among the dusts, only 43,000 kg belongs to orthodox while 4.42 lakh kg, CTC. In all, 8.14 lakh kg belongs to leaf grades and 4.85 lakh kg, dust grades.

Homedale Estate’s Super Red Dust CTC tea, auctioned by Global Tea Brokers, topped the entire auctions last week when Ajmath Traders, bought it for ₹256 a kg. It surpassed all grades of teas from all other factories, including the orthodox teas from corporate sector. No other CTC tea could enter the high-price bracket of ₹200/kg.

Quotations with the brokers indicated ₹84-90 a kg for plain Leaf grades and ₹125-140 for the best grades. For plain Dust grades, they ranged ₹84-88 and for the best grades, ₹125-140.

Published on January 30, 2019

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