Two grades of green tea topped the auctions of Sale No 6 of the Coonoor Tea Trade Association.
“The ‘super fine’ Green Tea grade of Pascoes Woodlands topped the entire auctions when BR Tea Co bought it for ₹321 a kg”, Ravichandran Broos, General Manager, Paramount Tea Marketing P Ltd told BusinessLine.
“The ‘MONGRA’ Grade Green tea of Pascoes Woodlands came next when Jai Tulsi Enterprises bought it for ₹296 a kg”, he said.
Among orthodox teas, Kodanad got ₹263, Havukal ₹261, Kairbetta ₹250, Glendale ₹232, Nonsuch Orthodox ₹226, Kil Kotagiri ₹223, Narikkal Estate ₹215, Devashola ₹205 and Mailoor ₹200.
Among other CTC teas, Pinewood Estate got ₹265, Crosshill Estate Special ₹256, Riverside Estate ₹221, Hittakkal Estate ₹219, Bellatti Estate ₹216, Shanthi Supreme ₹215, Homedale Premium ₹206, Kannavarai Estate ₹202, Selva Ganapathy Premium and Navilkal Estate ₹200 each.
Overall, teas worth ₹8.09 crore remained unsold as there were no takers for as much as 39 per cent of the offer.
This was despite the average price dropping to ₹133.23 a kg from ₹134.11 last week.
As only 9.68 lakh kg sold against 12.19 lakh kg last week, the overall earnings this week nosedived to ₹12.90 crore from last week’s ₹16.35 crore. Consequently, earnings dropped by as much as ₹3.45 crore or 21.10 per cent in just one week.
Both the upcountry buyers and exporters were selective and were hesitant to pick up high priced teas.
Harsh winter conditions in many countries including parts of the US, Russia and Europe with frozen waterways obstructing the movement of goods have affected tea shipments, exporters said.
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