Coonoor tea auction price crashes to year’s lowest
March 01, 2021
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Following inadequate demand, the average price at sale 8 of the auctions of Coonoor Tea Trade Association nosedived to ₹ 125.62 a kg – the lowest so far in calendar 2021.
This was nearly ₹ 6 less per kg over the previous week.
Despite this, there were no takers for as much 41 per cent of the offer resulting in teas worth ₹8.53 crore remaining unsold.
The Broken Orange Pekoe CTC grade of Crosshill Estate Special, auctioned by Global Tea Brokers, topped the auctions when Tea Services India Pvt Ltd bought it for ₹ 301 a kg. This was the only tea which crossed ₹ 300/kg level this week.
The tea industry, which has witnessed a near 25 per cent drop in exports in 2020 following the lower production of the orthodox variety, is urging the central government to announce some subsidy to bo