Commodities

Tea volume falls for the last Coonoor auction of 2019

PS Sundar Coonoor | Updated on December 18, 2019 Published on December 18, 2019

The auctions for 2020 will begin on January 2   -  GRN Somashekar

Around 15.27 lakh kg of tea has been catalogued for Sale No: 51 of the auctions of the Coonoor Tea Trade Association to be held on Thursday and Friday.

This is some 10,000 kg less than last week’s offer.

This is the last auction for calendar year 2019 as the market will close for a fortnight for Christmas and New Year celebrations around the world thereafter. The auctions for 2020 will begin on January 2.

Of the 15.27 lakh kg offered, as much as 14.08 lakh kg belongs to CTC (crush, tear, curl) variety and 1.19 lakh kg to the orthodox variety. The proportion of orthodox tea continues to be low in both leaf and dust grades. In the leaf counter, only 73,000 kg belongs to orthodox while 9.97 lakh kg is CTC. Among the dust grades, only 46,000 kg belongs to orthodox, while 4.11 lakh kg is CTC. In all, 10.70 lakh kg belongs to leaf grades and 4.57 lakh kg to dust grades.

The Homedale Red Dust grade auctioned by Global Tea Brokers, topped the entire auction last week when Shreeji Traders bought it for ₹267 a kg. In the CTC leaf tea auctions, Homedale’s two grades, auctioned by Global Tea Brokers, topped at ₹256 and ₹251. Pinewood Estate got ₹200.

Quotations with the brokers indicated ₹60-65 a kg for plain leaf grades and ₹110-124 for the best grades. For plain dust grades, prices ranged ₹62-70 for plain grades, and ₹115-122 for the best grades.

Published on December 18, 2019
This article is closed for comments.
Please Email the Editor