Commodities

Coonoor tea prices drop to lowest in a fortnight

P S SUNDAR Coonoor | Updated on September 13, 2021

Nearly 85% of tea on offer sold at sale no. 36 of the auctions of Coonoor Tea Trade Association

The nationwide holiday for Vinayakar Chathurthi affected the participation of buyers – both domestic and exporters – at sale no 36 of the auctions of Coonoor Tea Trade Association for which the volume offered had crashed to four-month low.

The subdued demand for many lots in the catalogue brought down the average price to ₹93.79 a kg – the lowest of the last fortnight.

Nevertheless, the volume absorbed dropped to 15.70 lakh kg – the lowest of the last one month.

Also read: Subdued demand, selective buying hit CTC dust tea prices in Kochi

Exporters lent selective support to Orthodox Leaf grades. Three grades of Kodanad Speciality orthodox leaf teas, auctioned by Paramount Tea Marketing (SI) P Ltd., topped the entire auctions with one fetching ₹281 a kg and the other two ₹280 each.

Among other orthodox teas, Chamraj fetched ₹266, Kairbetta ₹220 and Nonsuch Orthodox ₹203.

Among CTC teas, Homedale Estate’s Broken Orange Pekoe grade, auctioned by Global Tea Auctioneers Pvt Ltd. (GTAPL), topped when Belmount Tea and Produce Co., bought it for ₹ 270 a kg. Crosshill Estate Premium Broken Orange Pekoe Small grade, auctioned by GTAPL, followed at ₹237.

In the CTC Dust tea auction, Crosshill Estate Premium Red Dust, auctioned by GTAPL topped at ₹234 a kg.

Among other CTC teas, Pinewood Estate fetched ₹213, Hittakkal Estate ₹202, Shanthi Supreme ₹201 and Vigneshwar Estate ₹200.

Overall, tea worth ₹14.73 crore accounting for nearly 85 per cent of what was on offer was sold.

Published on September 13, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like