Commodities

Coonoor tea auctions set new price record

PS Sundar Coonoor | Updated on January 13, 2020 Published on January 13, 2020

A new price record was set at the auctions of Coonoor Tea Trade Association (CTTA) at Sale 2 this week when the Super Red Dust grade of Homedale Tea Factory, auctioned by Global Tea Brokers (GTB), was bought by Tea Services India Pvt Ltd for ₹302 a kg.

This was the only tea, CTC or orthodox, from any factory, small-scale or corporate, to exceed the ₹300/kg level.

In 2019, CTTA honoured Homedale Tea Factory’s partners Raman Menon and Prashant Menon, GTB’s Managing Director Rajesh Gupta and the buyer Oswal Tea Traders’ proprietor Harish Baradia for fetching the highest price of the year. But that time, the price was ₹301, while it is ₹302 now.

In the Leaf auctions, Homedale’s tea, auctioned by GTB, topped at ₹ 271 per kg. No other CTC tea entered the high-price bracket of ₹200/kg in both Leaf and Dust auctions.

The highest price fetched by orthodox teas from the corporate sector was ₹ 261 a kg by Kodanad. Chamraj got ₹242, Kairbetta ₹ 241, Nonsuch orthodox ₹208 and Glendale ₹ 201.

Overall, teas worth ₹ 4.01 crore remained unsold as there were no takers for about 29 per cent of the offer as demand from upcountry buyers and exporters was yet to pick up after the winter holidays for the traders.

Published on January 13, 2020
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