The Hindu Business Line : Pak keeps Coonoor teas up

THANKS to the forceful purchases by Pakistan, tea prices at the auctions conducted by the Coonoor Tea Trade Association (CTTA) here on Friday were buoyant for the second consecutive week.

Pakistan buyers were seen scouting for quality black teas in sharp contrast to the earlier practice of picking up generally jet black teas.

Exporters were seen vying with one another to pick up volumes to earn from their individual business.

Likewise, upcountry buyers were seen picking up teas to replenish stocks in retail stores, as the supplies from the North East are inadequate.

For all such pressures, the offerings had been low due to the frost reducing the harvests in over 500 hectares in the Nilgiris. In all, 9.05 lakh kg were offered for sale - almost 2.5 lakh kgs lower than the offerings at the corresponding sale of last year.

"Overall the demand was strong. Brighter liquoring teas were dearer. Medium and plainer CTC grades got up to Rs 6 a kg more than the previous week. Clean secondary orthodox grades appreciated by Rs 5-6. Even the residuals got Rs 3 more. But, fibrous orthodox leaf grades had to be withdrawn for want of bids. The demand for bolder CTC dusts was only selective," an auctioneer told Business Line.

Good CTC dust teas fetched only Rs 54-58 a kg - almost Rs 10 lower than in the corresponding sales of last year.

Quotations held by the brokers indicated bids ranging from Rs 39-42 a kg for the plain dust grades, while it was Rs 63-71 for the brighter liquoring grades.

Plain leaf grades got Rs 40-42, while the brighter liquoring grades, Rs 61-68.