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P.S. Sundar

Coonoor , Feb. 24

DEMAND picked up for tea auctioned here on Sunday largely because the Coonoor Tea Trade Association (CTTA) diluted provisions governing the collection of the contingency deposit of 4.5 per cent.

The buyers were allowed to operate if they signed an indemnity bond agreeing to indemnify the auctioneers in case the Tamil Nadu Government subsequently disallowed central sales tax deals for inter-state transactions and merged them with the Tamil Nadu Government sales tax, whose rate is higher.

HLL factor boosted the sale of a substantial volume of teas between Rs 35 and Rs 45 a kg. Exporters lent useful supportPoland picked up a sizable volume at around Rs 34 a kg. The buyers for CIS (nations) were active even around Rs 42. Likewise, after a long spell of subdued buying, the buyers for Pakistan bought teas up to Rs 42 a kg.

Darmona Estate continued to top the CTC bought leaf segment with Rs 76 a kg average.

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