Coonoor Tea Witnesses Low Price

Coonoor: Prices maintained to rule low at the auctions of the Coonoor Tea Trade Association (CTTA) here with the demand being inadequate to absorb the huge volume on offer. About 30 per cent of the 12.49 lakh kg offered went unsold and in most cases, teas could be sold only when the prices shed Rs 2 a kg. The offer was the second largest volume so far for 2007 and some 11,000 kg lower than last week's offer which was the highest so far this year. Purchasers complained of a general decline in quality. Pakistan shippers chose blacker sorts in the range of Rs 36-40 a kg, while CIS purchasers picked up bolder grades for Rs 39-41. There was no buying for any other country. On the corporate front, Hindustan Unilever Ltd (HUL) selected good medium grades.
Duncans bought better medium sorts. JV Gokal operated on fannings. IPL picked up powdery orthodox residuals. Among the CTC teas from bought leaf factories, no tea crossed the Rs 100-level which Darmona Estate had maintained for two months thus far. Among the orthodox teas from the corporate sector, Corsley fetched the highest price of Rs 126 a kg, Havukal and Mailoor Rs 124, Kairbetta Rs 122, Curzon Rs 120, Kodanaad and Tiger Hill Rs 100. Quotations held by the brokers indicted bids ranging from Rs 34-35 a kg for the plain dust grades and Rs 65-80 for the brighter liquoring grades.