COONOOR AUCTION - 5::
TEA AUCTION TURNOVER DOWN Rs 5.70 Cr
BY P S SUNDAR
Nilgiri tea producers and traders
have lost Rs 5.70 crore in the opening month of 2015 at Coonoor Tea Trade Association
auctions.
This has happened
because the volume sold in January 2015 was 3.56 lakh kg less compared to
January 2014 despite producers slashing prices by Rs 5 per kg,
During most
auctions of last year, prices ruled the least of the past few years due to low demand.
In December, a rising trend was seen
with prices increasing week after week.
This trend continued in January 2015; still, prices could not reach the
levels of a year ago as demand continued to be inadequate.
In January, five
auctions were held when prices averaged Rs 75.85 per kg against Rs 80.93 in January
2014. Still, the volume sold was only
5.48 million kg (mkg) against 5.84 mkg in January 2014.
Consequently, the
overall turnover dropped to Rs 41.56 crore from Rs 47.26 crore in January
2014. This loss of Rs 5.70 crore marked
a decline of 12.06 per cent.
However, producers
are hoping that prices will reach last year’s levels this month. In February’s first auctions, prices rose to
an average of Rs 80.55 per kg – the highest since May 23, 2014. Homedale Estate tea, auctioned by Global Tea
Brokers, topped overall Crush-Tear-Curl market and Dust auctions when Shree Ram
Tea Trading Co bought it for Rs 214 per kg.
Darmona Tea Industry topped the Leaf auctions at Rs 196.
The Orange Pekoe orthodox leaf tea of Chamraj was the only grade to
exceed Rs 300-a-kg mark and it fetched Rs 301 a kg. Glendale got Rs 281, Kairbetta Rs 260, Kodanad Rs 243, Havukal Rs 233, Prammas Rs 220 and Highfield
Estate Rs 215. In
all, 47 marks got Rs 125 and more per kg.
Quotations held by brokers
indicated bids ranging Rs 49-53 a kg for plain leaf grades and Rs 90-165 for brighter liquoring sorts. They ranged Rs 60-64 for plain dusts and Rs 110-180 for brighter liquoring dusts.
There was some purchase for
Pakistan in a wide range Rs 73-111 a kg.
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