34% tea unsold at Coonoor sale on slack demand
Michael Chen
Senior Web Developer
The low sale scenario witnessed at the Coonoor Tea Trade Association auction in the last one month continued this week at Sale No: 12 when inadequate demand led to 34 per cent of the 12.68 lakh kg offered remaining unsold despite prices dropping by ₹3 a kg.
Homedale Estate tea, auctioned by Global Tea Brokers, topped the CTC market when Tulip International bought it for ₹200 a kg. Crosshill Estate got ₹193, Vigneshwar Estate ₹184, Shanthi Supreme ₹183, Deepika Supreme ₹178 and Hittakkal Estate ₹ 175. In all, 45 marks got ₹125 and more per kg. Among orthodox teas, Chamraj topped at ₹241 a kg followed by Kodanad ₹240, Kairbetta ₹222, Havukal ₹215, Corsley ₹210, Prammas and Highfield Estate ₹195 each. In all, 42 marks got ₹125 and more per kg.
Quotations held by brokers indicated bids ranging from ₹54 to ₹58 a kg for plain leaf grades and ₹110 to ₹160 for brighter liquoring sorts. They ranged from ₹63 to ₹66 for plain dusts and ₹130 to ₹180 for brighter liquoring dusts.
Export purchase was limited to plainer less-priced teas. There was no purchase worth recording for Pakistan as exporters said that adequate stocks prevailed with their importers.
Even the usual demand for brighter liquoring teas from upcountry buyers was less pronounced this week causing substantial withdrawal.
Source: thehindubusinessline.com/markets/commodities/34-tea-unsold-at-coonoor-sale-on-slack-demand/article5822446.ece
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