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Coonoor tea prices fall again

P.S. Sundar

Coonoor , July 16

Prices fell at the auctions conducted by the Coonoor Tea Trade Association (CTTA) here on Friday despite the volume of 10.7 lakh kg offered being the lowest for the past 10 weeks because the demand was inadequate.

Upcountry demand was sluggish, while the exporters were selective. Consequently, prices dropped around Rs 3 a kg on the average over the previous week.

Brighter liquoring teas suffered a lot as the pickers were few. Barring some established brands, this category of teas did not find buyers with good bids. The medium and plainer teas found some useful buyers, but the lower end teas moved fast. On the corporate buying front, Hindustan Lever Ltd (HLL) showed interest on better medium grades.

On the export front, Pakistan turned selective with the buyers insisting on grainer qualities. Even for fannings, they paid around Rs 47 a kg against Rs 51 the previous week.

Kenya bought some teas for around Rs 46 akg. Iraq picked up teas for Rs 45. "Orthodox secondary fibrous sorts lost Rs 2 akg. The BOPF grades fetched Rs 3 lower. CTC dust teas also lost Rs 2, while the medium teas were lower by Rs 3.", an auctioneer told Business Line.

Among the CTC teas from bought-leaf factories, Homedale Estate got the highest price of Rs 78.77 akg, followed by Highfiled Estate Special Rs 73.10, Darmona Estate Rs 71 and Professor Rs 70.99.

Among the orthodox teas from corporate sector, Prammas got the highest price of Rs 126.55, followed by Curzon Rs 124.10, Kodanaad Rs 123.01, Corsely Rs 122.91, Kairabetta Rs 120.59, Chamraj Rs 115.90, Glendale Rs 110 and. Havukkal Rs 102.

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