The Hindu Business Line : Coonoor tea prices decline, volumes remain unsold

Substantial volume remained unsold at Sale No: 50 of the auctions of Coonoor Tea Trade Association despite shedding Rs 3 a kg as the demand was inadequate to absorb the four-week high offer of 12.55 lakh kg at the base price.

As much as 30 per cent of leaf and 32 per cent of dust offered remained unsold.

CTC teas

Among CTC teas from bought-leaf factories, Darmona Tea Industry fetched the highest price.

“In the leaf market, our Broken Orange Pekoe Fannings (BOPF) grade got Rs 133 a kg – the week's highest price. In all, three of our grades got Rs 124 and more,” Mr Dinesh Raju, Darmona Managing Partner, told Business Line.

“In the dust market, our Homedale Estate Red Dust (RD), auctioned by Global Tea Brokers, got the highest price of Rs 129. In all, four of our grades got Rs 125 and more,” Mr Prashant Menon, Homedale Managing Partner, said.

Professor mark got Rs 123 with eight grades fetching Rs 104 and more. Shanthi Supreme got Rs 122, Hittakkal Estate, Blue Mont Estate and Vigneshwar Estate Rs 119 each. In all, 62 grades fetched Rs 100 and more.

Orthodox teas

Among orthodox teas from corporate sector, Curzon got Rs 187, Chamraj Rs 142, Havukal Rs 130.50, Coonoor Tea Rs 127, Tiger Hill and Katary Rs 126 each, Glendale Rs 124.50, Parkside Rs 122, Corsley and Colacumby Rs 120 each. In all, 28 grades fetched Rs 100 and more.

“Nearly 80 per cent of orthodox leaf teas remained unsold despite shedding Rs 2-7 a kg. High-priced CTC leaf market eased Rs 3-5, better mediums Rs 2-7 while substantial volume of plainers was withdrawn despite shedding Rs 3-5.

Primary orthodox dusts eased Rs 3-5 and secondaries Rs 2-3.

High-priced CTC dusts, however gained Rs 1-2. Better mediums lost Rs 1-2 and plainers Rs 2,” an auctioneer said.

Brighter liquoring

Quotations held by brokers indicated bids ranging from Rs 62-65 a kg for plain leaf grades and Rs 88-116 for brighter liquoring sorts.

They ranged Rs 65-68 for plain dusts and Rs 90-120 for brighter liquoring sorts.

Export purchases were tellingly weak.