COONOOR TEA AUCTIONS – 4:

 

NO TEA CROSSES ₹ 300/KG MARK

 

 

By P S SUNDAR

 

As producers left the market to the forces of demand and supply in Sale No: 26 of the auctions of Coonoor Tea Trade Association as against the fixing of the base price of ₹ 85 a kg in the previous Sale, 79.74 per cent of the 24.49 lakh kg on offer was sold as against 30.23 per cent in the previous week.

 

The average price dropped sharply to ₹ 77.60 a kg from ₹ 92.92 in the previous Sale.   In effect, teas worth ₹ 14.88 crore was sold marking an increase of ₹ 7.84 crore over the previous week.   This also mean a whopping increase of 111.36 per cent in just one week!

 

However, this left teas worth ₹ 3.78 crore unsold because there were no takers for as much as about 20 per cent of the offer.

 

No tea could enter the ₹ 300/kg bracket this week.  Kodanad orthodox tea topped the auctions at ₹ 273 a kg.  Among other orthodox teas, Havukal got ₹ 262, Kairbetta ₹ 241 and Glendale ₹ 240.

 

Among CTC teas, Crosshill Estate tea, auctioned by Global tea Auctioneers Pvt Ltd., topped when Nishanthi Traders bought it for ₹ 241 a kg.    Darmona Estate, Bathma Excel and Kannavarai Estate got ₹ 205 each and Shanthi Supreme ₹ 202. 

(Response can also be sent to: pssundar.coonoor@gmail.com)