A volume of 8.76 lakh kg will be offered for Sale No. 16 of the auctions of Coonoor Tea Trade Association to be held on Thursday and Friday, reveals an analysis of listing by brokers.
It is the lowest volume offered so far in this calendar year. It is about 63,000 kg less than last week's offer and as much as 5.28 lakh kg less than the offer this time last year.
Of the 8.76 lakh kg on offer, 6.39 lakh kg are leaf grades and 2.37 lakh kg dust grades. As much as 8.16 lakh kg are CTC variety and only 60,000 kg orthodox variety. The proportion of orthodox teas continues to be low in both the leaf and dust grades. On the leaf counter, only 28,000 kg are orthodox while 6.11 lakh kg are CTC. Among the dusts, only 32,000 kg are orthodox while 2.05 lakh kg are CTC.
In the 8.76 lakh kg, fresh teas account for 8.13 lakh kg. About 63,000 kg comprises teas unsold in previous auctions. Last week, nearly 15 per cent of the 9.87 lakh kg offered remained unsold despite shedding Rs 3 a kg. Homedale Estate tea, auctioned by Global Tea Brokers, topped the CTC market at Rs 164 a kg. Vigneshwar Estate got Rs 161, Shanthi Supreme Rs 150 and Darmona Estate Rs 145. In all, 58 marks got Rs 100 and more.
Among orthodox teas from the corporate sector, Chamraj got Rs 220, Kairbetta Rs 168, Kodanad Rs 167, Havukal and Curzon Rs 166 each, and high field estate Rs 160. In all, 30 marks got Rs 100 and more.
“Orthodox leaf market lost Rs 2-3 a kg. High-priced CTC leaf lost up to Rs 5 and better mediums up to Rs 2, while plainers lost Rs 2-3. Primary orthodox dust eased Rs 2-5. High-priced CTC dust eased Rs 2-5 but mediums gained Rs 2-5,” an auctioneer told Business Line .
On the export front, Pakistan bought selectively for Rs 57-71 a kg and the CIS Rs 52-63.
Quotations held by brokers indicated bids ranging from Rs 49 to Rs 55 a kg for plain leaf grades and from Rs 100 to Rs 148 for brighter liquoring sorts. They ranged from Rs 57 to Rs 63 for plain dusts and from Rs 90 to Rs 161 for brighter liquoring dusts.