Commodities

Volume on offer at Coonoor tea auction at 4-month low

PS Sundar Coonoor | Updated on September 08, 2021

Friday’s dust tea auction postponed to Saturday

The falling trend witnessed in the offer for the auctions of Coonoor Tea Trade Association (CTTA) continues for sale no 36 to be held this week. The leaf tea auction will be held on Thursday while the dust tea auction which is usually held on Fridays will be held on Saturday this week as Friday will be a holiday on account of Vinayaka Chathurthi.

The total volume catalogued for this week has crashed to 18.66 lakh kg – the lowest in the last four months after 15.05 lakh kg offered for the auctions on April 23. This is around 72,000 kg less than the offer for last week.

Lower production

“Week after week, the volume on offer has been falling because of a lower production in the factories. The output is low because of reduced harvest of the raw material, the green leaf, in the fields due to unfavourable conditions in the past few weeks with inadequate sunshine and windy weather. We apprehend a lower output throughout September,” CTTA Chairman L Vairavan told BusinessLine.

Also read: Coonoor auctions: Tea Prices on two-month high

Of the 18.66 lakh kg offered for this week’s auctions, as much as 17.26 lakh kg belongs to CTC variety and only 1.42 lakh kg was of the orthodox variety. The proportion of orthodox tea continues to be low in both leaf and dust grades. In the leaf tea counter, only 99,000 kg belongs to orthodox while 13.35 lakh kg is of the CTC variety. In the dust tea section, only 43,000 kg belongs to orthodox while 3.91 lakh kg was of the CTC variety. In all, 14.34 lakh kg belongs to leaf grades and 4.34 lakh kg of dust grades.

Homedale Estate’s CTC red dust grade, auctioned by Global Tea Auctioneers Pvt Ltd., (GTAPL) topped the entire auctions last week when Badhusha Tea Co., bought it for ₹ 371 a kilo. The red dust grade of Crosshill Estate Premium, auctioned by GTAPL, fetched ₹226. Among other CTC teas, Vigneshwar Estate and Pinewood Estate got ₹ 216 each and Deepika Supreme ₹ 201.

Quotations with the brokers indicated ₹74-82 a kilo for plain leaf grades and ₹140-216 for the best grades. For plain dust grades, prices ranged from ₹74-79 and for the best grades from ₹160-226.

Published on September 08, 2021

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

This article is closed for comments.
Please Email the Editor

You May Also Like