COONOOR AUCTION - 1: 

PRICES RISE AT COONOOR TEA AUCTION

P S SUNDAR

               The encouraging trend seen at the opening auction for calendar 2015 of Coonoor Tea Trade Association last week continued in Sale No: 2 (Jan 8 & 9) with 82 per cent of the 16.91 lakh kg on offer being bought despite prices rising by a rupee a kg on the average. 

“Darmona Pekoe Dust grade, auctioned by Paramount Tea Marketing auctioneers, created new price record at Rs 219 a kg – the highest among all CTC teas in this auction as also 30-year factory highest for this grade.  It beat its own record of Rs 210 of last week”, Darmona Tea Industry’s Managing Director Dinesh Raju told me.

Broken Orange Pekoe Fannings grade of Homedale Estate tea, auctioned by Global Tea Brokers, topped CTC leaf market at Rs 214. In all, 10 CTC grades fetched ` 200 and more per kg and 109 marks Rs 125 and more.

Kairbetta topped orthodox market at Rs 265 a kg, followed by Kodanad Rs 252, Havukal and Glendale Rs 240 each, Chamraj, Rs 232, Highfield Estate Rs 226 and Coonoor Tea Rs 207. In all, 42 marks got Rs 125 and more per kg.

Quotations held by brokers indicated bids ranging Rs 40-44 a kg for plain leaf grades and Rs 90-160 for brighter liquoring sorts. They ranged Rs 45-54 for plain dusts and Rs 110-190 for brighter liquoring dusts.

There were some purchase for Pakistan for Rs 55-66 a kg and for CIS in a wide range Rs 55-115.