Commodities

Tea auction volumes rises

PS Sundar Coonoor | Updated on September 19, 2019 Published on September 19, 2019

A volume of 11.69 lakh kg has been catalogued for Sale 38 of the auctions of Coonoor Tea Trade Association, which will conclude on Friday. This is as much as 1.45 lakh kg more than last week’s offer.

Of the 11.69 lakh kg offered, as much as 10.72 lakh kg belongs to CTC variety and only 97,000 kg to orthodox variety. The proportion of orthodox teas continues to be low in both leaf and dust grades. In the leaf counter, only 61,000 kg belongs to orthodox while 7.40 lakh kg to CTC.

Among the dusts, only 36,000 kg belongs to orthodox and 3.32 lakh kg to CTC. In all, 8.01 lakh kg belongs to Leaf grades and 3.68 lakh kg to Dust grades.

The Coonoor-based bought-leaf factory, Homedale Tea Factory, created a new record for the current calendar, fetching a price exceeding ₹ 300/kg mark last week. Homedale tea, auctioned by Global Tea Brokers, created a hat-trick by topping the auctions for the third consecutive week when Oswal Tea Traders bought Homedale Pekoe Dust grade for ₹ 301 a kg.

This was the highest price fetched by any tea in any auction of CTTA so far in 2019. Homedale Red Dust grade, auctioned by Global Tea Brokers, followed at ₹ 286. In the CTC Leaf tea auctions, two grades of Homedale, auctioned by Global Tea Brokers, topped at ₹ 241 each. No other CTC tea entered the high-price bracket of over ₹ 200 per kg.

Quotations with the brokers indicated ₹65-75 a kg for plain Leaf grades and ₹112-125 for the best grades. For plain Dust grades, they ranged ₹70-75 and for the best grades, ₹108-120.

Published on September 19, 2019
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