A volume of 11.96 lakh kg has been catalogued for Sale No: 16 of Coonoor Tea Trade Association scheduled for Saturday.
This is about 54,000 kg more than last week’s offer. Still, it is among the lowest volumes of the past many months.
In view of the parliamentary elections in Tamil Nadu on Thursday and the holiday on Friday for Good Friday, this week’s both the Leaf and Dust tea auctions are being held on Saturday.
Of the 11.96 lakh kg offered, as much as 10.72 lakh kg belongs to CTC variety and only 1.24 lakh kg, orthodox variety. The proportion of orthodox teas continues to be low in both leaf and dust grades. In the leaf counter, only 74,000 kg belongs to orthodox while 6.93 lakh kg, CTC. Among the dusts, only 50,000 kg belongs to orthodox while 3.79 lakh kg, CTC. In all, 7.67 lakh kg belongs to Leaf grades and 4.29 lakh kg, Dust grades.
Homedale Estate Red Dust grade, auctioned by Global Tea Brokers and bought by JP Enterprises and Homedale Super Red Dust, auctioned by Global Tea Brokers and bought by Vishal Marketing Co topped the entire CTC auctions last week each fetching ₹240 a kg. In the CTC Leaf auctions, three grades of Homedale, auctioned by Global Tea Brokers, topped at ₹232, ₹228 and ₹219 respectively. No other CTC grade entered the high-price bracket of ₹200 a kg.
Quotations with the brokers indicated ₹85-90 a kg for plain Leaf grades and ₹112-120 for the best grades. For plain Dust grades, they ranged ₹85-90 and for the best grades, ₹116-124.