Commodities

Year’s second highest volume for Coonoor tea auction even as Ramadan fast begins

PS Sundar Coonoor | Updated on April 14, 2021

Re-cataloguing some teas withdrawn from previous auctions is among the reasons for a higher offer now

The rising trend witnessed in the offer for the auctions of Coonoor Tea Trade Association (CTTA) continues this week with a volume of 18.65 lakh kg being offered for Sale No: 15 to be held on Thursday and Friday.

This is the second-highest volume to be offered for CTTA auctions this year after 19 lakh kg offered in the very first sale of this calendar. The volume that time was more because the market had remained closed for a fortnight before for Christmas-New Year celebrations.

This week’s offer is as much as 2.02 lakh kg more than the last week’s offer. Re-cataloguing some teas withdrawn from previous auctions is among the reasons for a higher offer now.

Of the 18.65 lakh kg offered for this week’s auctions, as much as 17.41 lakh kg belongs to CTC variety and only 1.24 lakh kg orthodox variety. The proportion of orthodox teas continues to be low in both leaf and dust grades. In the leaf tea counter, only 87,000 kg belongs to orthodox while 12.70 lakh kg, CTC. Among the dust tea, only 37,000 kg belongs to orthodox while 4.71 lakh kg, CTC. In all, 13.57 lakh kg belongs to Leaf grades and 5.08 lakh kg, dust grades.

Homedale Estate’s Pekoe Dust grade, auctioned by Global Tea Brokers, topped the entire auction last week when Dhruv Enterprises bought it at ₹317 a kg. Homedale Estate’s Red Dust grade, auctioned by Global Tea Brokers, followed at ₹303. These were the only teas which crossed ₹300/kg mark.

Quotations with the brokers indicated ₹97-101 a kg for plain Leaf grades and ₹157-213 for the best grades. For plain Dust grades, they ranged ₹106-108 and for the best grades, ₹150-215.

This week’s sale takes place at the commencement of the Ramadan month-long fast as also at the culmination of Tamil New Year and Vishu celebrations which could reshape the impact of demand, traders said.

Published on April 14, 2021

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