Commodities

Nearly 71% tea sold at coonoor auctions

P S SUNDAR Coonoor | Updated on January 18, 2021

A new price record was set up by the bought leaf Factory, Homedale Tea Factory, at Sale No: 2 of the auctions of Coonoor Tea Trade Association.

“Our Red Dust grade, auctioned by Global Tea Brokers (GTB), topped the entire auctions when Badhusha Tea Co., bought it for ₹ 383 a kg”, Raman A Menon, Homedale’s Managing Partner told BusinessLine.

“Consequently, we have broken our last week’s price record of ₹ 381. This is a new record as it is the highest price fetched by any of our teas since manufacturing started in our factory 72 years ago”, he said.

“In the Leaf tea auctions, our Broken Orange Pekoe grade, auctioned by GTB, topped at ₹ 356 a kg”, he disclosed.

These two grades were the only teas which crossed ₹300/kg mark this week.

The Broken Orange Pekoe grade of Crosshill Estate Special, auctioned by GTB, came second at ₹ 290 a kg.

Among other CTC teas, Pinewood got ₹ 227, Vigneshwar Estate ₹ 216, Shanthi Supreme ₹ 214, Kannavarai Estate ₹ 210, Deepika Supreme ₹ 209, Hittakkal Estate and Banacombai Estate ₹ 207 each, Navilkal Estate ₹ 205 and Darmona Estate ₹ 204.

Among orthodox teas, Chamraj topped at ₹ 286 followed by Kodanad ₹ 267, Havukal ₹ 238, Kairbetta ₹ 225, Kil Kotagiri ₹ 221, Nonsuch Orthodox ₹ 216, Devashola ₹ 212, and Allada Valley ₹ 200.

The average price rose to ₹ 136.69 a kg – the highest since November 20, 2020 – but only 71 per cent of the offer was sold.

Published on January 18, 2021

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