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Nearly 84 per cent of 13.04 lakh kg offered for Sale No: 50 of the auctions of the Coonoor Tea Trade Association (CTTA) was sold despite the average price rising to ₹80.51 a kg from last week’s ₹79.03.
An improvement in the demand from upcountry buyers was noticed as the tea estates and factories in North and North East have closed their operation following Tea Board’s order for winter closure.
This was the penultimate sale for CTTA auctions in calendar 2019 because after the next auction, Sale No: 51, the market will remain closed for a fortnight for Christmas and New Year celebrations all over the world.
The Coonoor-based bought-leaf factory, Homedale Tea Factory, has continued with its consistent high performance for its CTC teas by fetching price above all other teas including the export-oriented orthodox teas from corporates.
At this week’s auctions, Homedale Red Dust grade, auctioned by Global Tea Brokers, topped the entire auctions when Shreeji Traders bought it for ₹267 a kg.
In the CTC Leaf tea auctions, Homedale two grades, auctioned by Global Tea Brokers, topped at ₹256 and ₹251 each. Pinewood Estate got ₹200.
The highest price fetched by orthodox teas from corporate sector was ₹256 by Kodanad. Chamraj got ₹242 and Kairbetta ₹237.
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