Commodities

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

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