Commodities

Teas worth ₹3.11cr unsold at Coonoor auctions

PS Sundar Coonoor | Updated on February 04, 2019

Teas worth about ₹3.11 crore remained unsold at Sale No: 5 of the auctions of Coonoor Tea Trade Association despite the average prices falling to ₹100 a kg from the previous week’s ₹101.25 due to inadequate demand at higher prices.

In some cases, exporters were seen to remain silent. Overall, there were no takers for some 25 per cent of the offer.

The Coonoor-based Homedale Tea Factory, a small-scale bought leaf tea factory, topped the entire auctions beating the prices of even orthodox teas from corporate sector.

Homedale Estate Red Dust grade, auctioned by Global Tea Brokers, topped the entire auctions when JP Enterprises bought it for ₹285 a kg.

In the CTC Leaf tea auctions, two grades of Pinewood Estate topped at ₹211 and ₹ 201 each. No other CTC tea could enter the high-price bracket of ₹200/kg.

Among orthodox teas, Kodanad topped at ₹261 a kg followed by Kairbetta ₹251, Chamraj ₹249 and Mailoor ₹211.

Published on February 04, 2019

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