Commodities

N. India buyers boost tea prices at Coonoor sale

P. S. Sundar Coonoor | Updated on February 03, 2014

The prolonged snowfall in Russia and rest of the CIS as also the US limited exporters’ operation at Sale number 5 of the Coonoor Tea Trade Association. “Temperature has once again drifted to minus 24 degrees Celsius with snow piling over 30 centimetres on roads obstructing traffic mobility. Residents are unable to get Coonoor tea in neighbourhood grocery shops. We are told to wait for a fortnight more,” Pragya Jain, patron of Nilgiri tea at Maryland in the US told Business Line.

“Overall, we have only fewer enquiries from our importers and that too for plainer less-priced teas,” an exporter said.

There were only selective purchases for Russia at ₹57-80 a kg and at ₹59-72 for the rest of the CIS. Most shippers to Pakistan were also silent contending adequate availability with their importers. Some bought for ₹65-81.

With North Indian teas reeling under end-season wafer-thin offerings amidst threat of cancellation of few auctions in February and March for want of volume, domestic traders were active at Coonoor auction and upcountry buyers bought brighter-liquoring teas.

Overall, 82 per cent of the 11.51 lakh kg was sold with prices rising ₹1/kg over the previous week.

Homedale Estate tea, auctioned by Global Tea Brokers, topped CTC market when R J Tea Corporation bought it for ₹205. Crosshill Estate got ₹198 and Vigneshwar Estate ₹195. In all, 89 marks got ₹125 and more a kg.

Among orthodox teas, Kodanad topped at ₹300 a kg followed by Kairbetta got ₹270, Highfield Estate ₹250, Havukal ₹230 and Chamraj ₹215. In all, 38 marks got ₹125 and more a kg.

Published on February 03, 2014

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