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Fall in offer for Coonoor tea auctions

Fall in offer for Coonoor tea auctions

Wed July 11 2018

 

A volume of 16.38 lakh kg has been catalogued for Sale No: 28 of Coonoor Tea Trade Association auctions to be held on Thursday and Friday.

 

This is as much as 2.29 lakh kg less than last week’s offer following less production by bought leaf factories which closed operations for a week protesting against Tea Board’s price fixation.

 

Of this, 11.04 lakh kg belongs to leaf grades and 5.34 lakh kg, dust grades. As much as 14.91 lakh kg belongs to CTC variety and only 1.47 lakh kg, orthodox variety. The proportion of orthodox teas continues to be low in both leaf and dust grades. In the leaf counter, only 94,000 kg belongs to orthodox while 10.10 lakh kg, CTC. Among the dusts, only 53,000 kg belongs to orthodox while 4.81 lakh kg, CTC.

 

Homedale Estate’s Red Dust, auctioned by Global Tea Brokers, topped the entire auctions last week when J P Enterprises bought it for `259 a kg. This meant that this tea beat even the orthodox teas from corporates. Homedale Estate’s Super Red Dust tea, auctioned by Global Tea Brokers, got `222. In the CTC Leaf auctions, Homedale Estate’s Broken Pekoe tea, auctioned by Global Tea Brokers, topped at `236.

 

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

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