Teas worth ₹ 4.32 crore remained unsold at Sale No: 3 of the auctions of Coonoor Tea Trade Association (CTTA) as there were no takers for about 20 per cent of the offer despite the average price dropping to ₹133 a kg – the lowest so far in 2021.
The demand was generally less compared to the previous weeks as upcountry buyers and exporters turned selective for some grades. For the first time in 2021, no tea could cross ₹300/kg mark.
The Broken Pekoe Leaf grade from the bought-leaf factory, Crosshill Tea Factory, auctioned by Global Tea Brokers (GTB) topped the entire auction this week when TRP Tea and Commodities bought it for ₹286/kg.
Crosshill’s two other Leaf tea grades, auctioned by GTB, followed at ₹271 and ₹270.
These three grades fetched the highest price among all teas — orthodox or CTC — from any factory corporate or bought leaf.
Among other CTC teas, Pinewood got ₹241, Shanthi Supreme ₹223, Hittakkal Estate ₹222, Vigneshwar Estate ₹217, Palmera Estate and Riverside Estate ₹213 each, Deepika Supreme ₹209, Kannavarai Estate and Bellatti Estate ₹206 each and Professor Superfine ₹201.
Among orthodox teas, Kodanad topped at ₹255 a kg followed by Glendale ₹249, Havukal ₹234, Kairbetta ₹224, Nonsuch Orthodox ₹221, Devashola ₹218, Kil Kotagiri ₹216 and Siruvani ₹200.
“We had earlier announced that the next auction, Sale No: 4 would be held on January 27 instead of January 28 as instructed by the Tea Board for conducting the pilot run of the Japanese model on February 2. But now, Tea Board has announced the postponement of the pilot run to a date yet to be fixed. Hence, we have rescheduled Sale No: 4 to take place on the original dates – January 28 for Leaf and January 29 for Dust tea auctions”, CTTA’s Chairman, L Vairavan, told BusinessLine.
This article is auto-generated by Algorithm Source: www.thehindubusinessline.com