Financial Daily from THE HINDU group of publications
Tuesday, Nov 30, 2004
Financial Daily from THE HINDU group of publications Tuesday, Nov 30, 2004 |
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Agri-Biz & Commodities
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Coal Low participation hits Coonoor tea auctions P.S. Sundar
Coonoor , Nov. 28
THE auctions conducted by the Coonoor Tea Trade Association (CTTA) here on Sunday evoked poor response from the buyers. "The attendance by the buyers was low and their participation still lower. Only very few lots were sold in the electronic auctions, noted the Market Report of the Joint Brokers. In the outcry sale that followed which the Market report styled as "regular sale No: 48", a total of 14.47 lakh kgs was offered. But the exporters were not active. Exporters to Poland and CIS markets were selective and picked up their types of teas for Rs 42 a kg. The buyers for Pakistan market complained the cleaner, blacker types of teas were low in availability and they paid Rs 52 a kg. The buyers and the sellers had different price ideas about those teas categorised as Rs 60 a kg and more. Consequently, as much as 80 per cent of the teas in this category went unsold, as the sellers did not settle down for low bids. The plainest grades, however, had a filed day ranging from Rs 39 to Rs 42 a kg. "In the CTC leaf category, smaller brokens and fannings fetched Rs 2 a kg more. The smaller brokens got Re 1 more. But, the bolder grades lost up to Rs 4. The best Nilgiris orthodox dusts grades got Re 1 more. Clean black CTC dusts also got Re 1 more," noted the Market report. The plain leaf grades fetched Rs 38 to Rs 40, while the brighter liquoring ones, Rs 60 to Rs 63.
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