Commodities

Tea prices at Coonoor gathers steam on festival demand

P S SUNDAR Coonoor | Updated on October 26, 2020 Published on October 26, 2020

Thanks to the festival season’s additional demand, as much as 90.44 per cent of the offer at Sale 43 of the auctions of Coonoor Tea Trade Association was sold despite the average price rising by ₹5 a kg.

Two grades of CTC teas from small scale bought leaf factories excelled beating even the export-oriented orthodox teas from the corporate sector.

Homedale Estate’s Pekoe Dust grade, auctioned by Global Tea Brokers, topped the entire auctions when Vora Sons bought it for ₹ 316 a kg. This was the only tea, CTC or orthodox from any factory, bought leaf or corporate to exceed the ₹300/kg mark.

Cross Hill Estate’s Special Pekoe Dust grade, auctioned by Global Tea Brokers, followed when Santhosh Tea Industries P Ltd bought it for ₹ 292 a kg.

“By virtue of this, we have surpassed our earlier record of ₹ 291 a kg established on August 14”, Cross Hill’s Director Dr Jagdeep Raju told BusinessLine.

“This has created a new price record for us in our Platinum Jubilee year because this is the highest price fetched by any of our teas in a regular auction ever since manufacturing started in our factory in 1945”, he said.

In the CTC Leaf tea auctions, Homedale Estate’s Broken Orange Pekoe grade, auctioned by Global Tea Brokers, topped at ₹ 291 a kg.

Among other CTC Dust and Leaf teas, Darmona Estate got ₹ 237, Pinewood Estate ₹ 227, Vigneshwar Estate ₹ 216, Shanthi Supreme ₹ 213, Deepika Supreme ₹ 212, Sharon Estate ₹ 211, Bellati Estate ₹ 207 and Hittakkal Estate ₹ 200.

Among orthodox teas, Kodanad, Glendale and Nonsuch Orthodox got ₹ 221 each, Devashola, Lockhart and Kil Kotagiri ₹ 220 each, Goldsland ₹ 216, Lockhart Gold ₹ 210 and Siruvani ₹ 201.

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Published on October 26, 2020
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