Prices crash to year’s lowest in Coonoor tea auctions
In spite of the normal price tag crashing to ₹120.eleven a kg – the lowest so considerably this calendar, there were no takers for about 30 for every cent of the provide at Sale No: thirteen of the auction of Coonoor Tea Trade Association as the desire was significantly less because of to Great Friday / Easter vacations.
As a result teas worth about ₹5.28 crore remained unsold.
Homedale Estate’s Purple Dust quality, auctioned by Global Tea Brokers, topped the overall auction when GLT Enterprises purchased it at ₹305 a kg.
Among the other CTC teas, Pinewood Estate received ₹302, Crosshill Estate Special ₹ 220, Vigneshwar Estate ₹ 219 and Hittakkal Estate ₹ 206,
Among the orthodox teas, Chamraj received ₹ 276, Kodanad ₹ 265, Havukal ₹ 238, Kairbetta ₹ 236, Glendale ₹ 225, Kil Kotagiri ₹ 222, Mailoor and Nonsuch Orthodox ₹ 216 each and Devashola ₹ 207.
“With talks looming huge of lockdown and trade restrictions to be reintroduced in different States to battle the 2nd wave of Covid-19, upcountry traders are preferring to ‘wait-and-watch’ prior to investing on refreshing shares now,” a trader explained to BusinessLine.
Exporters were also selective for the exact rationale.
Moreover, with the North Indian teas scheduled to strike the market place in volumes in April and over and above, some upcountry traders are ready for refreshing teas from that area prior to purchasing in Coonoor now, traders explained.
