Teas worth ₹2.72 cr unsold at Coonoor auctions

December 02, 2019

 

Teas worth about ₹2.72 crore remained unsold at Sale 48 of the auctions of Coonoor Tea Trade Association as there were no takers for as much as 21 per cent of the offer.

 

Buyers complained of a lack of adequate financial flow in the backdrop of the economic slowdown. They said fiscal incentives from the government are needed to help them invest in high-priced teas.

 

Among the CTC teas from bought-leaf factories, only Homedale teas, auctioned by Global Tea Brokers, could enter the high-price bracket of ₹200 per kg. Of them, Homedale Red Dust tea topped the entire CTC auctions when Tea Services India Pvt Ltd bought it for ₹275 a kg.

 

In the CTC Leaf tea auctions, Homedale’s tea topped at ₹220 a kg. Among orthodox teas, Kairbetta topped at ₹300 a kg. Chamraj got ₹249 and Kodanad ₹246.

 

Source:https://www.thehindubusinessline.com/