Commodities

Homedale creates two new price records at Coonoor tea auctions

PS Sundar Coonoor | Updated on February 05, 2020

Two new price records were set by Homedale Tea Factory in Sale 5 of Coonoor Tea Trade Association (CTTA) auctions.

Homedale Red Dust grade auctioned by Global Tea Brokers (GTB), created a new price record when Tanmay Tea Co bought it for ₹313 a kg.

Likewise, Homedale Broken Orange Pekoe, auctioned by GTB, topped the Leaf tea auctions when Tea Services India Pvt Ltd bought it for ₹311 a kg.

These were the only teas in the whole auctions, CTC or orthodox, from any factory, bought leaf or corporate, to enter the ₹300/kg bracket.

This means, Homedale and GTB beat their own previous record of ₹307 created a fortnight ago.

Last year, 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.

Among other CTC teas, Pinewood got ₹216 and Vigneshwar ₹200.

The highest price fetched by orthodox teas from corporate sector was ₹260 a kg by Kodanad. Kairbetta got ₹256, Chamraj ₹242, Nonsuch orthodox ₹205 and Glendale ₹204.

Overall, teas worth ₹3.86 crore remained unsold as there were no takers for about 34 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 February 05, 2020

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