Financial Daily from THE HINDU group of publications
Wednesday, Jan 11, 2006


Group Sites

Agri-Biz & Commodities - Tea

Coonoor tea prices up on limited supply

P.S. Sundar

Coonoor , Jan. 10

THE New Year has begun on a happy note for the Nilgiris tea producers as their teas, at the first auctions of the Coonoor Tea Trade Association (CTTA), have fetched around Rs 2 a kg more than the last sale of 2005.

The main reason for the rise in prices was the tight supply situation arising from a very low offer.

The volume offered - 7.52 lakh kg - was lower than 7.8 lakh kg offered on December 23.

Buyers stepped up their purchases at the auctions here, leading to increased demand and the concomitant price push for many grades.

"Brighter liquoring teas witnessed buoyancy with upcountry buyers pressuring the market. Quality teas posted substantial gains. Even the medium ones got more than Rs 2 a kg over the previous sale. Good liquoring bolder brokens got Rs 3 more a kg. Likewise, popular medium grades of CTC dusts got Rs 3 more. Flavoury primary orthodox dusts fetched handsome premiums. Even secondaries registered Rs 4 more and some much more on competition," said an auctioneer.

Plainer teas, however, suffered. There were some withdrawals as bids failed refused to meet sellers'the expectations of the sellers.

Among the corporate buyers, Hindustan Lever Ltd bought better medium grades. Others were mostly silent.

On the export front, the buyers for CIS markets bought bolder grades, while those for Pakistan and Iraqi markets, who were active in the last few weeks, were subdued.

Among the CTC teas from bought leaf factories, Darmona Estate got the highest price of Rs 97 a kg, followed by Homedale Estate Rs 90.55. Vigneshwar Estate got Rs 74.11.

Quotations held by the brokers indicated bids ranging from Rs 32 to Rs 35 a kg for the plain leaf grades and Rs 62 to Rs 69 for the brighter liquoring grades. The bids ranged Rs 34-36 for the plain dust grades and Rs 63-70 for the brighter liquoring grades.

More Stories on : Tea

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
The moneylender surfaces again

Fruit fusion
`Improved supply can help expand apple market'
Agriculturists seek stepping up of farm sector investments
Rubber prices rule steady
Coonoor tea prices up on limited supply
Food subsidy cut put on hold: Pawar
Mixed reaction to cut in foodgrains subsidy on expected lines
Mills decry short supply of ELS cotton — Poor seeds quality, labour costs worry growers
Sesame growers urged to sell stocks before March
Soyameal price rises on pick-up in demand
Edible oil imports down in April-October
Tobacco products: `Scrapping of addl duties won't help'
'Huge illegal movement of stocks will take place'

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line