TOP PRICE FETCHING TEAS..

(article in Business Line)

TEAS WORTH ₹ 18 Cr UNSOLD AT COONOOR AUCTIONS

P S SUNDAR
Coonoor, September 21

Teas worth ₹ 18.05 crore remained unsold at Sale No: 38 of the auctions of Coonoor Tea Trade Association as there were no takers for as many as 40 per cent of the offer.

Upcountry buyers showed resistance to bid contending that prices were rising enormously in the last few weeks. Some trader bodies have urged the Government to take a soft action towards imports in an effort to tame the prices of indigenous teas in the auctions.

The average prices dropped by seven rupees a kg over the previous week.

Lakshmi Estate topped the entire auctions when its Pekoe Dust grade, auctioned by Paramount Tea Marketing Pvt Ltd, was bought by Nilgiri Green and Co for ₹ 301 a kg. This was the only grade which crossed ₹ 300/kg mark among all the teas, CTC or orthodox, from corporate or bought leaf factories.

In the CTC leaf tea auctions, Homedale Estate’s Broken Orange Pekoe grade, auctioned by Global Tea Brokers, topped at ₹ 295 a kg.

These two grades fetched the highest prices in this auction beating the prices of even orthodox teas from corporate factories.

Among other CTC teas, Pinewood Estate got ₹ 265, Darmona Estate ₹ 261 and Vigneshwar Estate ₹ 245.

Among orthodox teas, Kodanad got ₹ 265, Glendale ₹ 257, Chamraj ₹ 241, Devashola ₹ 238, Kairbetta ₹ 234, Kil Kotagiri ₹ 231, Nonsuch Orthodox ₹ 220, Mailoor ₹ 215, Siruvani ₹ 211, Havukal ₹ 210 and Erinkadu ₹ 200.

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