Coonoor: Exporters to Pakistan showed keen interest to buy teas paying high prices when the auctions of the Coonoor Tea Trade Association (CTTA) for the year 2008 opened on Friday. Their strategy was to cover short supplies from Kenya where business stands disrupted due to post poll violence.
“There has been no sale at Mombassa for a fortnight now. Business could be affected if supply crunch continues. So, we are building up stocks. We expect normal market conditions soon in Pakistan as the country cannot afford prolonged disruptions which erupted following the murder of Benazir Bhutto”, an exporter told Business Line.
In the bargain, exporters paid up to Rs 70 a kg for some grades, marking about Rs 20 more than last week. Large volumes were picked up for around Rs 51 a kg.
But, there was no significant purchase for any other country. Russian buyers complained of movement hurdles because of frozen waterways in the wake of temperature ruling minus 14 degrees Celsius. Scanty purchases were seen for the CIS and Poland markets.
Corporate buying
On the corporate buying front, Hindustan Unilever Ltd proved to be the mainstay in the CTC leaf counter. Internal buyers were strong.
Overall, the market was steady with last week with the offer remaining 30-week low at 8.37 lakh kg. “Some odd lines of orthodox dusts sold for Rs 10 a kg more. Most were up by Rs 3-5. Better liquoring CTC dusts gained Rs 1-2. But, orthodox leaf lost Rs 2-3 and some 60 per cent went unsold. Plainer CTC leaf lost Rs 1-2”, an auctioneer said.
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Darmona Estate was the only brand in the Rs 100 plus category of CTC teas from bought-leaf factories. Its RD teas fetched Rs 102. Homedale Estate got Rs 96, Vigneshwar Estate and Hittakkal Estate Rs 86, Kannavarai Estate, Professor and Green View Rs 85, Ella and Kotagiri Estate Rs 84, Sindu and Warwick Rs 81 and Selva Ganapathy Supreme Rs 80.
Among the orthodox teas from corporate sector, Corsley got the highest price of Rs 130 a kg, followed by Kairbetta and Quinshola Rs 128, Prammas, Kodanaad, Sutton, Curzon and Havukal Rs 126, Craigmore and Tiger Hill Rs 124, Chamraj Rs 122, Nonsuch Rs 120, Kil Kotagiri Rs 118, Katary Rs 115 and Coonoor Tea Estate Rs 105.
Quotations held by the brokers indicated bids ranging from Rs 39-43 a kg for the plain leaf grades and Rs 63-76 for the brighter liquoring sorts. They ranged Rs 42-45 for the plain dust grades and Rs 65-84 for the brighter liquoring sorts.
“There has been no sale at Mombassa for a fortnight now. Business could be affected if supply crunch continues. So, we are building up stocks. We expect normal market conditions soon in Pakistan as the country cannot afford prolonged disruptions which erupted following the murder of Benazir Bhutto”, an exporter told Business Line.
In the bargain, exporters paid up to Rs 70 a kg for some grades, marking about Rs 20 more than last week. Large volumes were picked up for around Rs 51 a kg.
But, there was no significant purchase for any other country. Russian buyers complained of movement hurdles because of frozen waterways in the wake of temperature ruling minus 14 degrees Celsius. Scanty purchases were seen for the CIS and Poland markets.
Corporate buying
On the corporate buying front, Hindustan Unilever Ltd proved to be the mainstay in the CTC leaf counter. Internal buyers were strong.
Overall, the market was steady with last week with the offer remaining 30-week low at 8.37 lakh kg. “Some odd lines of orthodox dusts sold for Rs 10 a kg more. Most were up by Rs 3-5. Better liquoring CTC dusts gained Rs 1-2. But, orthodox leaf lost Rs 2-3 and some 60 per cent went unsold. Plainer CTC leaf lost Rs 1-2”, an auctioneer said.
• Check out our Yearender Special
Darmona Estate was the only brand in the Rs 100 plus category of CTC teas from bought-leaf factories. Its RD teas fetched Rs 102. Homedale Estate got Rs 96, Vigneshwar Estate and Hittakkal Estate Rs 86, Kannavarai Estate, Professor and Green View Rs 85, Ella and Kotagiri Estate Rs 84, Sindu and Warwick Rs 81 and Selva Ganapathy Supreme Rs 80.
Among the orthodox teas from corporate sector, Corsley got the highest price of Rs 130 a kg, followed by Kairbetta and Quinshola Rs 128, Prammas, Kodanaad, Sutton, Curzon and Havukal Rs 126, Craigmore and Tiger Hill Rs 124, Chamraj Rs 122, Nonsuch Rs 120, Kil Kotagiri Rs 118, Katary Rs 115 and Coonoor Tea Estate Rs 105.
Quotations held by the brokers indicated bids ranging from Rs 39-43 a kg for the plain leaf grades and Rs 63-76 for the brighter liquoring sorts. They ranged Rs 42-45 for the plain dust grades and Rs 65-84 for the brighter liquoring sorts.
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