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Coonoor tea auction prices dip to new low - The Hindu BusinessLine
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Year s second highest volume for Coonoor tea auction even as Ramadan fast begins
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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.
February 03, 2021
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Teas worth ₹ 4.13 crore remained unsold at Sale No: 4 of the auctions of Coonoor Tea Trade Association (CTTA) as there were no takers for about 23 per cent of the offer despite the average price dropping to ₹ 132.25 a kg – the lowest so far in calendar 2021.
The demand was generally less compared to the previous weeks as upcountry buyers and exporters turned selective for some grades.
For the second consecutive week in 2021, no tea could cross ₹ 300/kg mark.
The Pekoe Dust grade of the bought leaf tea factory, Crosshill Tea Factory, auctioned by Global Tea Brokers, topped the entire auctions when Shreeji Traders bought it for ₹ 263 a kg.