June 23, 2024


Passion For Business

Three CTC leaf teas top Coonoor auctions

Three CTC leaf grades – Crosshill Estate Special, Pinewood Estate and Pinewood Top quality – topped the full auctions of sale 7 of Coonoor Tea Trade Association fetching ₹300 a kg each.

Among other CTC teas, Riverside Estate got ₹ 225, Homedale Top quality ₹ 217, Vigneshwar Estate ₹ 216, Kannavarai Estate₹ 213, Waver Tree and Palmera Estate ₹ 211 each, Shanthi Supreme and Bellatti Estate ₹ 209 each, Hittakkal Estate ₹ 208 and Professor Superfine ₹ 200.

Among orthodox teas, Kodanad got ₹ 275, Havukal ₹ 253, Kairbetta ₹ 242, Kil Kotagiri ₹ 221, Devashola ₹ 211 and Narikkal Estate ₹ 201.

Over-all, teas well worth ₹ 7.77 crore remained unsold as there ended up no takers for as substantially as 40 for each cent of the offer you.

This was in spite of the common cost dropping to ₹ 131.51 a kg – the least expensive so much in calendar 2021.

As only eight.86 lakh kg was offered against nine.68 lakh kg last week in spite of the cost fall, the overall earnings this week dropped to ₹ eleven.sixty five crore from last week’s ₹ twelve.90 crore. As a result, the earnings fell by ₹ one.twenty five crore or nine.sixty nine for each cent in just 1 week.

Each the upcountry customers and exporters ended up selective and confirmed hesitancy to choose up higher priced teas.

Harsh wintertime conditions in many countries, including pieces of the US, Russia, Europe and Japan exactly where waterways are frozen obstructing the movement of goods, have afflicted tea shipments, some exporters claimed.