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.
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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.