21/04/2021

shermancountycd

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Prices crash to year’s lowest in Coonoor tea auctions

Regardless of the regular value crashing to ₹120.eleven a kg – the cheapest so far this calendar, there were no takers for about thirty for each cent of the offer you at Sale No: thirteen of the auction of Coonoor Tea Trade Association as the demand was fewer owing to Fantastic Friday / Easter holidays.

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

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

Among other CTC teas, Pinewood Estate got ₹302, Crosshill Estate Specific ₹ 220, Vigneshwar Estate ₹ 219 and Hittakkal Estate ₹ 206,

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

“With talks looming substantial of lockdown and trade restrictions to be reintroduced in unique States to fight the second wave of Covid-19, upcountry traders are preferring to ‘wait-and-watch’ ahead of investing on new stocks now,” a trader informed BusinessLine.

Exporters were also selective for the same explanation.

Moreover, with the North Indian teas scheduled to strike the industry in volumes in April and beyond, some upcountry traders are waiting for new teas from that location ahead of paying for in Coonoor now, traders claimed.