26% teas remain unsold at Coonoor sales
April 19, 2021
No takers despite price crashing to year’s lowest
There were no takers for about 26 per cent of the offer worth ₹ 5.60 crore at Sale No: 15 of the auction of Coonoor Tea Trade Association despite the average price crashing to year’s lowest level of ₹ 114.80 a kg.
On the one hand, the volume offered – 18.65 lakh kg – was the year’s second highest quantity.
On the other, demand was not matching this supply as some upcountry buyers said that before investing on high priced teas, they would wait to see if there would be any trade restrictions in the wake of second wave of Covid-19.
Over 83% Coonoor tea sold as prices nosedive to year’s lowest
April 13, 2021
Overall earnings up by ₹3.68 crore in just one week to reach ₹16.06 crore
With the average price crashing to ₹ 117.64 a kg the lowest so far this calendar as much as 83.09 per cent of the offer at sale 14 of the auction of Coonoor Tea Trade Association was sold.
This resulted in the overall earnings to rise by ₹ 3.68 crore or 29.73 per cent in just one week to reach ₹ 16.06 crore.
Homedale Estate’s Pekoe Dust grade, auctioned by Global Tea Brokers, topped the entire auction when Dhruv Enterprises bought it at ₹ 317 a kg. Homedale Estate’s Red Dust grade, auctioned by Global Tea Brokers, followed at ₹ 303. These were the only teas which crossed ₹ 300/kg mark.
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Coonoor tea auction prices rise; 85% sold
March 16, 2021
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After a fortnight of price fall, the average price at Sale 10 of the auctions of Coonoor Tea Trade Association rose to ₹122.67 a kg from ₹121.86 in the previous auction.
Despite this price rise, 85.48 per cent of the offer was sold against 83.30 per cent in the previous week because of better demand and rise in the quality of the teas on offer.
Crosshill Estate Special Pekoe Dust grade, auctioned by Global Tea Brokers, topped the entire auctions when Vora Sons bought it for ₹ 277 a kg.
Crosshill Estate Special’s Red Dust and Pinewood Estate got ₹ 271 each, Riverside Estate ₹ 234, Shanthi Supreme ₹ 222, Hittakkal Estate and Kannavarai Estate ₹ 215 each, Waver Tree ₹ 213, Vigneshwar Estate and Hiribel Excel ₹ 211 each and Bellatti Estate ₹ 203.
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.