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Teas worth ₹7.38 crore remained unsold at Sale No: 41 of the auctions of Coonoor Tea Trade Association as there were no takers for as much as 20 per cent of the offer.
For the fourth consecutive week, upcountry buyers showed resistance to bid contending that prices had been rising enormously in the last few weeks. Some trader bodies have urged the Government to take a soft action towards imports in an effort to tame the prices of indigenous teas in the auctions.
Consequently, huge volume remained unsold despite the average prices falling by as much as ₹ 10 a kg over the previous week.
For the first time in the last few months, no tea entered the ₹ 300/kg mark.
Homedale Estate’s Red Dust grade, auctioned by Global Tea Brokers, topped the entire auctions when Shri Shakthi Associates bought it for ₹ 270 a kg.
In the CTC Leaf tea auctions, Homedale Estate’s Broken Orange Pekoe Fanning grade, auctioned by Global Tea Brokers, topped at ₹ 250.
Darmona Estate got ₹ 221, Pinewood Estate ₹ 213, Bellati Estate ₹ 210, Shanthi Supreme ₹ 209, Vigneshwar Estate, Kannavarai Estate and Riverside Estate ₹ 205 each, Banacombai Estate ₹ 202, Hittakkal Estate, Palmera Estate and Sharon Estate ₹ 200 each.
Among orthodox teas, Chamraj topped at ₹ 262, followed by Kodanad ₹ 230, Devashola ₹ 223, Glendale ₹ 218, Nonsuch Orthodox ₹ 216, Lockhart ₹ 211, Kairbetta ₹ 210, Havukal ₹ 205, Siruvani and Kil Kotagiri ₹ 201 each.
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