The Hindu Business Line : Coonoor tea prices up on demand

Prices generally rose at the auctions of the Coonoor Tea Trade Association (CTTA) here this week as the demand was more sharply felt on the low volume on offer. The volume of 9.83 lakh kg offered was 6 lakh kg lower than the volume offered in the corresponding sale of last year, although it showed increase over the 19-week low offers of last week.

Except for the CTC leaf category, the demand was felt sharp for all the invoices. Even in the CTC leaf category, fannings managed to fetch higher prices occasionally.

"Strong demand prevailed for all types of orthodox leaf. Stylish whole leaf grades sold substantially dearer. Well made leafy brokens appreciated by Rs 4 a kg. Bright liquoring CTC dusts were absorbed at dearer prices. Even the plainer teas got a rupee more. Flavoury primary orthodox dusts were substantially dearer", an auctioneer told Business Line.

On the corporate buying front, Hindustan Lever Ltd (HLL) lent support for better medium grades. JKF International and Madhu Jayanthi operated keenly on the orthodox leafy dusts. Western and Deccan buyers showed interest on the flavoury dusts.

Exports

On the export counter, Pakistan was less active than in the previous weeks. "We are watching the developments arising from the talks the Prime Minister, Dr Manmohan Singh, had with the Pakistan President, Mr Pervez Musharraf, in Havana", a buyer for Pakistan said. The shippers paid around Rs 52 for the selective black teas. CIS and Poland importers bought selectively CTC leaf grades paying around Rs 49 a kg. Kenyan shipper selected black well made teas paying around Rs 52. There was some buying of CTC leaf grades for the Defence supplies.

Among the teas from bought-leaf factories, Darmona Estate got the highest price of Rs 81.55 a kg, followed by Highfield Estate Rs 77.01 and Garswood estate clonal Rs 75.

Quotations held by the brokers indicated bids ranging from Rs 44.50 to 46 a kg for the plain leaf grades and from Rs 62 to 69 for the brighter liquoring teas. The bids ranged from Rs 47.50 to 49 a kg for the plain dust grades and from Rs 64 to 72 for the brighter liquoring sorts.

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