Date:04/12/2006 URL: http://www.thehindubusinessline.com/2006/12/04/stories/2006120401210500.htm

Back Coonoor tea up

P.S. Sundar

Coonoor , Dec. 3

Prices rose on an average Rs 2 a kg at the auctions of the Coonoor Tea Trade Association (CTTA) here when the demand firmed up to absorb the reduced volume on offer.

The volume of 12.38 lakh kg on offer was the lowest of the last six weeks.

The demand was better than the previous weeks.

Prices range

"Brighter liquoring teas fetched good demand and sold dearer up to Rs 2 a kg. Smaller brokens and fannings were dearer by Rs 2-3. The range of orthodox teas got good demand.

High grown whole leaf grades were dearer by Rs 3. Better medium and medium CTC dusts got improved enquiry and the prices rose Rs 2. Popular primary orthodox dusts saw increases in price up to Rs 3. Secondary dusts also came to a dearer market", an auctioneer told Business Line.

However, bolder CTC leaf grades suffered some withdrawals. Broken orthodox leaf grades tended easier.

Among the corporate buyers, Hindustan Lever Ltd (HLL) showed interest on the better medium varieties. JFK International and JV Gokal were active on orthodox leaf grades.

Upcountry buyers were selected quality offers. Western India buyers chose CTC leaf and orthodox dust grades.

Defence buyer operated on the lower end of the market.

On the export front, CIS bought medium and plainer varieties to build winter stocks. Pakistan buyers showed more interest this week than the previous week to pick up cleaner, blacker and smaller descriptions.

Among the CTC teas from bought leaf factories, Darmona Estate got the highest price of Rs 90 a kg. Highfield Estate Special got Rs 74, Homedale Estate Rs 72.51, Vigneshwar Estate Rs 72 and Hittakkal Estate Rs 71. Quotations held by the brokers indicated bids ranging from Rs 39-40 a kg for the plain leaf grades and from Rs 58-64 for the brighter liquoring teas.