Diwali purchases push up tea prices to 3-week high

P. S. Sundar Updated - November 03, 2021 at 05:44 PM.

Homedale dust grade creates price record

Assam, Guwahati: Adivasi women plucking freshly grown tea leaves in a tea garden in the out skirts of Guwahati on Wednesday, 10 March 2021. After a dry spell of almost six months without any rain, tea gardens have again come to alive in Assam, which is the highest producer of tea in India. Photo: RITU RAJ KONWAR / The Hindu

The dust market for tea closed for Diwali holidays after sale 43 of the auctions of Coonoor Tea Trade Association and will reopen only on November 6. Hence, upcountry buyers stepped up their purchase of dust grades resulting in some buoyancy in the market.

The overall average price rose to ₹86.76 a kg from previous week’s ₹84.09. This was the highest average price in three weeks.

Nevertheless because of increased demand from upcountry buyers, as much as 90.41 per cent of the offer was sold. This was the highest sale percentage of the last six weeks.

Helped by these, the overall realisation rose to ₹16.46 crore – the highest of the last two months.

The bought-leaf tea factory, Homedale Tea Factory, created a price record when its Red Dust grade, auctioned by Global Tea Auctioneers Private Ltd, was bought by Badhusha Tea Company for ₹362 a kg. This was the highest price among all teas on offer – CTC or orthodox – all grades – Dust or Leaf – and from any factory – bought leaf or corporate. Besides, it was the only tea which fetched over ₹300/kg in the whole auction.

Among other CTC teas, Pinewood Estate got ₹229 and Shanthi Supreme ₹201.

Among orthodox teas, Kodanad got ₹253, and Chamraj and Kodanad Speciality Tea ₹246 each, while Kodanad green tea fetched ₹200.

Exporters continued to be selective. Most purchases were for below ₹100 a kg.

Published on November 3, 2021 12:14