Massive fall in offer for post Pongal tea auction

The leaf tea auctions of Coonoor Tea Trade Association held on Thursdays will be held…

The leaf tea auctions of Coonoor Tea Trade Association held on Thursdays will be held this week together the Dust tea auctions on Friday as the market will keep on being closed for Pongal celebrations on Thursday.

For this Sale No: two to be held on Friday, a volume of sixteen.63 lakh kg has been catalogued. This is as significantly as two.38 lakh kg considerably less than the offer you for Sale No: one.

Of the sixteen.63 lakh kg presented for this week’s auctions, as significantly as 15.60 lakh kg belongs to CTC assortment and only one.03 lakh kg orthodox assortment. The proportion of orthodox teas continues to be lower in equally leaf and dust grades. In the leaf tea counter, only seventy two,000 kg belongs to orthodox though eleven.08 lakh kg, CTC. Among the dust tea, only 31,000 kg belongs to orthodox though 4.52 lakh kg, CTC. In all, eleven.eighty lakh kg belongs to Leaf grades and 4.eighty three lakh kg, dust grades.

Also go through: Coonoor tea auctions begin 2021 with file selling prices

Two bought leaf factories – Homedale and Crosshill – fetched file selling prices past week. Auctioned by World Tea Brokers (GTB), Homedale topped at ₹381 a kg and Crosshill adopted at ₹322. “Both had been the greatest selling price fetched these factories at any time due to the fact production started out in them,” GTB Taking care of Director Rajesh Gupta told BusinessLine.

“Besides, two grades of Crosshill teas, auctioned by GTB, topped the CTC dust tea auctions fetching ₹234 and ₹225 each individual,” he stated.

Quotations with the brokers indicated ₹110-117 a kg for basic leaf grades and ₹167-226 for the best grades. For basic dust grades, they ranged ₹119-a hundred twenty five and for the best grades, ₹171-225.