Prices crash to year’s lowest in Coonoor tea auctions

Truman Slate

Regardless of the normal price crashing to ₹120.11 a kg – the least expensive so far this calendar, there were being no takers for about 30 for every cent of the give at Sale No: thirteen of the auction of Coonoor Tea Trade Association as the desire was significantly less owing to Great Friday / Easter holidays.

Consequently teas truly worth about ₹5.28 crore remained unsold.

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

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

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

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

Exporters were being also selective for the exact same motive.

Besides, with the North Indian teas scheduled to hit the market place in volumes in April and outside of, some upcountry traders are waiting for fresh new teas from that location ahead of buying in Coonoor now, traders mentioned.

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