Coonoor Tea Auctions See Heavy Withdrawals

Coonoor: Prices remained to decline around Rs 2 a kg on the average with huge withdrawals of some grades when a volume of 8.36 lakh kg was offered for sale at the auctions of the Coonoor Tea Trade Association (CTTA) here. As much as 7.66 lakh kg comprised CTC and only 0.70 lakh kg orthodox variety. Again, as much as 6.12 lakh kg belonged to leaf grades and only 2.24 lakh kg dust grades. Although the demand was better for the brighter liquoring teas compared to the previous weeks, purchasers looked for lower bids. So, the price-spread was irregular and some teas lost up to Rs 3 a kg. The exporters to CIS markets were active on the bolder grades. Iraqi shipper preferred the smaller grades.