The Hindu Business Line : Coonoor tea prices look up

Prices looked up at the auctions of the Coonoor Tea Trade Association (CTTA) here this weekend as the demand was just adequate to lift the small volume on offer.

The volume of 10.57 lakh kgs put on offer was the lowest of the previous 11 weeks. Except for the brighter liquoring teas, which commanded a higher price, the demand was fair enough to propel a marginal increase in price over the previous week.

Among the corporate buyers, Hindustan Lever Ltd (HLL) lent useful support on the medium varieties. Girnar and JV Gokal were active on orthodox leaf grades.

Export demand

On the export front, Pakistan picked up clean black grades paying some Rs 3 a kg more than the previous week. In general, the exporters to this market paid around Rs 50 a kg. Kenya bought teas to bridge the short supplies in its home production to fulfil its export orders. It paid around Rs 46 a kg. Iraq bought medium and plainer grades for around Rs 45.

Among the CTC teas from bought-leaf factories, Darmona Estate got the highest price of Rs 81.12 a kg followed by Homedale Estate Rs 75.48 and Highfield Estate Special Rs 73.

Quotations held by the brokers indicated bids ranging from Rs 38 to 41 a kg for the plain leaf grades and Rs 60 to 66 for the brighter liquoring grades. For the plain dust grades, the bids ranged Rs 41 to 43.50 a kg, while for the brighter liquoring grades Rs 63 to 68.