Tea prices crash at Coonoor sale

P.S. Sundar Coonoor | Updated on April 07, 2014

More than a quarter, close to 29 per cent, of the 13.12 lakh kg offered in Sale No: 14 of Coonoor Tea Trade Association auction remained unsold despite lowering the price to an average of ₹3.07 a kg — the least so far this year.

Even at these prices, the value of tea unsold totalled ₹2.61 crore. Homedale Estate tea, auctioned by Global Tea Brokers, topped CTC market when Om Enterprises bought it for ₹194 a kg. Vigneshwar Estate got ₹186, Crosshill Estate ₹179, Shanthi Supreme ₹178 and Hittakkal Estate ₹175. In all, 40 marks got ₹125 and more a kg.

Among orthodox teas, Chamraj topped at ₹235 a kg followed by Kairbetta ₹221, Kodanad ₹220, Prammas ₹210 and Havukal ₹208. In all, 40 marks got ₹125 and more per kg. Quotations held by brokers indicated bids ranging from ₹50 to ₹54 a kg for plain leaf grades and ₹110-₹150 for brighter liquoring sorts. They ranged ₹63-₹66 for plain dusts and ₹120-₹180 for brighter liquoring dusts.

Export purchase was scanty and limited to plainer less-priced teas. Some teas were bought for Pakistan at ₹51-₹68 a kg and for the CIS at ₹51-₹73. Even the usual demand for brighter-liquoring teas from upcountry buyers was less pronounced this week causing substantial withdrawal.

Published on April 07, 2014

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like