Coonoor Tea Prices Rise On Low Offer

Coonoor: Prices rose Rs 2-3 a kg at Sale No: 48 of the auctions of the Coonoor Tea Trade Association (CTTA) as the demand was strong to absorb the low volume on offer.

The volume of nine lakh kg was the lowest of the last 25 weeks. Frost has reduced the harvest in many plantation pockets. But, buyers said that there was an improvement in the winter production of the highgrowns.

Since the demand firmed up, the prices of even the plainer grades advanced. The bottom level rose of such teas to a new high of Rs 37 a kg.

“Brighter liquoring teas received a good demand. Medium CTC leaf grades sold dearer by Rs 1-2 a kg. Fannings got Rs 2 more. Improved invoices got handsome premiums. Liquoring bolder brokens sole dearer by Rs 2-3. Some plainer grades managed to get Re 1 more, though some others were neglected. Whole leaf orthodox leaf got Rs 1-2 more. Primary orthodox dusts fetched as much as Rs 10 a kg more. Secondary and finer grades got Rs 1-2 more. Some got still higher price because of competition. Powdery CTC dusts gained Rs 2-4. Plainer grades sold Rs 2-3 more”, an auctioneer told Business Line.

But, flaky and fibrous brokens among orthodox leaf shed Rs 1-2.

Corporate buyers

Among the corporate buyers, Hindustan Unilever Ltd gave useful support for better medium varieties. Bhansali and Girnar operated on the range of well made brokens.

On the export front, Pakistan was forceful. Egypt also bought leaf grades. CIS and Poland were selective.

Darmona estate once again crossed the Rs 100-level among the CTC teas from bought-leaf factory sector. This week, its RD grades sold by J. Thomas and Co fetched the highest price of Rs 104 a kg. Homedale Estate sold by Global Tea Brokers fetched Rs 95, the second highest for the factory in 2007, the previous high being Rs 96 in February. Vigneshwar Estate and Greenview Estate fetched Rs 80.

Among the orthodox teas from corporate sector, Curzon got Rs 126 a kg, Glendale and Kairbetta Rs 123, Kodanaad and Mailoor, Rs 121 and Corsley Rs 112.

Quotations held by the brokers indicated bids arranging from Rs 38-41 for the plain dust grades and Rs 62-80 for the brighter liquoring sorts. They ranged Rs 37-43 for the plain leaf grades and Rs 58-68 for the brighter liquoring sorts.