Commodities

Teas worth ₹18 crore unsold at coonoor auction

PS Sundar Coonoor | Updated on September 21, 2020 Published on September 21, 2020

Teas worth ₹18 crore unsold at Sale No: 38 of the auctions of Coonoor Tea Trade Association as there were no takers for as many as 40 per cent of the offer.

Upcountry buyers showed resistance to bid as prices were rising in the last few weeks. Trader bodies have urged the government to take action towards imports in an effort to tame the prices of indigenous teas.

The average prices dropped by ₹7 a kg over the previous week.

Lakshmi Estate topped the auctions when its Pekoe Dust grade, auctioned by Paramount Tea Marketing Pvt Ltd, was bought by Nilgiri Green and Co for ₹301 a kg. This was the only grade which crossed ₹300/kg mark. from corporate or bought leaf factories.

In the CTC leaf tea auctions, Homedale Estate’s Broken Orange Pekoe grade, auctioned by Global Tea Brokers, topped at ₹295 a kg.

Among other CTC teas, Pinewood Estate got ₹265, Darmona Estate ₹261 and Vigneshwar Estate ₹245.

Among orthodox teas, Kodanad got ₹265, Glendale ₹257, Chamraj ₹241, Devashola ₹238, Kairbetta ₹234, Kil Kotagiri ₹231, Nonsuch Orthodox ₹220, Mailoor ₹215, Siruvani ₹211, Havukal ₹210 and Erinkadu ₹200.

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

Published on September 21, 2020
This article is closed for comments.
Please Email the Editor