Commodities

Coonoor tea prices rule six-week high

PS Sundar Coonoor | Updated on January 28, 2019

The rising trend witnessed in the auctions of Coonoor Tea Trade Association since the beginning of this calendar continued at Sale No: 4 when the average price rose to the six-week high of ₹101.25 a kg.

It was a hat-trick in the sense that for the third consecutive week, average prices ruled above ₹100/kg, a rare phenomenon. Besides, this was the highest price in the past six weeks.

Despite the price rise, about 82 per cent of the offer was absorbed due to higher demand from upcountry buyers arising from low supplies in North Indian teas.

Homedale Estate’s Super Red Dust CTC tea, auctioned by Global Tea Brokers, topped the entire auctions 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.

Among orthodox teas, Kodanad topped at ₹251 a kg followed by Chamraj ₹246, Kairbetta ₹241, Havukal ₹207 and Corsley ₹202.

Published on January 28, 2019

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