May 30, 2024

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Prices crash to year’s lowest in Coonoor tea auctions

Regardless of the regular price crashing to ₹120.eleven a kg – the cheapest so much this calendar, there ended up no takers for about thirty per cent of the offer you at Sale No: thirteen of the auction of Coonoor Tea Trade Association as the demand from customers was less because of to Very good Friday / Easter holiday seasons.

As a result teas truly worth about ₹5.28 crore remained unsold.

Homedale Estate’s Crimson Dust grade, auctioned by Worldwide Tea Brokers, topped the entire auction when GLT Enterprises acquired it at ₹305 a kg.

Amid other CTC teas, Pinewood Estate acquired ₹302, Crosshill Estate Distinctive ₹ 220, Vigneshwar Estate ₹ 219 and Hittakkal Estate ₹ 206,

Amid orthodox teas, Chamraj acquired ₹ 276, Kodanad ₹ 265, Havukal ₹ 238, Kairbetta ₹ 236, Glendale ₹ 225, Kil Kotagiri ₹ 222, Mailoor and Nonsuch Orthodox ₹ 216 each individual and Devashola ₹ 207.

“With talks looming big of lockdown and trade restrictions to be reintroduced in diverse States to battle the 2nd wave of Covid-19, upcountry traders are preferring to ‘wait-and-watch’ in advance of investing on contemporary shares now,” a trader told BusinessLine.

Exporters ended up also selective for the same motive.

Apart from, with the North Indian teas scheduled to hit the sector in volumes in April and further than, some upcountry traders are ready for contemporary teas from that region in advance of purchasing in Coonoor now, traders mentioned.