Commodities

Teas worth ₹3.35 cr unsold

P. S. Sundar | | Updated on: May 20, 2019

Teas worth about ₹3.35 crore remained unsold at Sale No: 20 of the auctions of Coonoor Tea Trade Association as there were no takers for about 22 per cent of the offer despite the producers reducing the average price by about two rupees a kg compared to the previous week, due to inadequate demand from upcountry buyers and the exporters.

The average price of ₹97.50 a kg fetched at this Sale was the lowest so far in calendar 2019.

Also, the 78 per cent sale recorded at this auction was the lowest so far this calendar barring Sale No: 5 on February 1 when 76 per cent sale happened.

Among the orthodox teas, Chamraj topped at ₹241 a kg followed by Kodanad ₹230, Kairbetta ₹225 and Havukal ₹220.

No CTC tea could enter the high-price bracket of ₹200 a kg. Pinewood estate topped the Dust auction and the entire CTC market fetching ₹176 a kg.

Darmona Estate topped the CTC Leaf auctions at ₹171 a kg.

Quotations with the brokers indicated ₹86-90 a kg for plain Leaf grades and ₹112-118 for the best grades. For plain Dust grades, they ranged ₹84-90 and for the best grades, ₹116-122.

Published on May 20, 2019

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