Coonoor tea prices rise on better demand

Prices generally rose by Rs 3 a kg at Sale No: 25 of the auctions of Coonoor Tea Trade Association (CTTA) with demand gaining strength to absorb the huge offer of 16.97 lakh kg. This was the highest volume offered so far in 2009.

Leaf market

"Leaf market was generally on a dearer trend.

Whole leaf orthodox gained Rs 2-5 a kg. But, high-priced and better medium CTC leaf eased Rs 2-3. Mediums and plainers gained Rs 2-4.

Some smaller bolder grades suffered withdrawal. Mixed trend was noticed in the dust market.

Some BOP orthodox dusts had to be withdrawn for want of bids. High-priced and better medium CTC dusts gained Rs 1-2 while mediums and plainers, Rs 2-3.

Finer dusts eased Rs 1-2 with less demand", an auctioneer told Business Line.

CTCs

Among CTC teas from bought-leaf factories, Darmona Estate got the highest bid of Rs 162.50 a kg and as many as five of its grades fetched Rs 130 and more.

Homedale Estate's highest bid was Rs 133, but as many as 10 grades got more than Rs 100.

Blue Monte Estate Special got Rs 132, Hittakkal Estate Rs 126.50, Professor Rs 126, Shanthi Supreme Rs 122.50, Vigneshwar Estate and Kannavarai Estate Rs 122 each, Selva Ganapathy premium Rs 121 and Aroma Estate special Rs 120.

In all, 56 grades fetched Rs 100 and more.

Orthodox

Among orthodox teas from corporate sector, Chamraj got the highest bid of Rs 152, followed by Curzon Rs 150, Mailoor Rs 148.50, Glendale Rs 148, Kodanaad Rs 144, Craigmore Rs 142, Parkside Rs 140, Corsely Rs 139 and Pascoe's Woodlands Rs 137.

In all, 20 grades fetched Rs 100 and more.

Quotations held by brokers indicated bids ranging from Rs 60-68 a kg for plain leaf grades and Rs 95-118 for brighter liquoring sorts.

They ranged Rs 64-70 a kg for plain dust grades and Rs 100-125 for brighter liquoring sorts.

On the export front, some CIS buyers were seen selecting plainer bolder grades. Overall, export purchases were weak.