Date:10/10/2008 URL: http://www.thehindubusinessline.com/2008/10/10/stories/2008101051641100.htm

Back Quality teas fetch premium at Coonoor auctions

P.S. Sundar

Coonoor, Oct 9 Despite prices declining and teas getting withdrawn from Sale No. 40 of the Coonoor Tea Trade Association (CTTA) auction last weekend, quality invoices fetched premium prices, an analysis of the buying pattern reveals.

The bottom level dropped by just Rs 2 to remain at Rs 68 a kg, thereby ensuring that teas were not available for prices lower than this unmindful of decline for brighter liquoring sorts.

Quotations held by brokers indicated bids ranging from Rs 68-73 a kg for plain leaf grades and Rs 90-96 for the brighter liquoring sorts. They ranged Rs 73-76 a kg for plain dust grades and Rs 100-118 for brighter liquoring sorts.

Selling above Rs 100/kg

As many as 25 marks of CTC teas of bought-leaf factories remained in Rs 100 price-band. Five marks of Darmona Estate, auctioned by J Thomas and Co, sold well above Rs 100 a kg in the CTC bought-leaf segment.

Two of its dusts grades, SRD and SFD, got the week’s highest price of Rs 119 a kg each. Three were dust grades – BOPF (Rs 117), BOP (Rs 111) and BP (Rs 110). Likewise, five marks of Homedale Tea Factory, auctioned by Global Tea Brokers, entered Rs 100 price-band.

Three were dust grades – RD Rs 118, another line RD Rs 105 and PD Rs 104. Two were leaf grades – BOPF Rs 101 and BP Rs 100. Three marks of Hittakkal group’s teas, auctioned by Contemporary Tea Auctioneers, remained in Rs 100 price-band – SRD and SFD Rs 118 each and Heritage Rs 108.

Vigneshwar Estate got Rs 118, Sree Lakshmi Estate Rs 114, Green View Estate Rs 113 and Shanthi Gold Rs 110.

Similarly, some 25 marks of orthodox teas from corporate sector remained in this price-category.