Prices crash to year’s lowest in Coonoor tea auctions
Even with the typical selling price crashing to ₹120.11 a kg – the lowest so significantly this calendar, there were being no takers for about 30 per cent of the supply at Sale No: thirteen of the auction of Coonoor Tea Trade Affiliation as the need was less because of to Very good Friday / Easter vacations.
As a result teas really worth about ₹5.28 crore remained unsold.
Homedale Estate’s Pink Dust quality, auctioned by International Tea Brokers, topped the full auction when GLT Enterprises acquired it at ₹305 a kg.
Amid other CTC teas, Pinewood Estate received ₹302, Crosshill Estate Specific ₹ 220, Vigneshwar Estate ₹ 219 and Hittakkal Estate ₹ 206,
Amid orthodox teas, Chamraj received ₹ 276, Kodanad ₹ 265, Havukal ₹ 238, Kairbetta ₹ 236, Glendale ₹ 225, Kil Kotagiri ₹ 222, Mailoor and Nonsuch Orthodox ₹ 216 every and Devashola ₹ 207.
“With talks looming substantial of lockdown and trade constraints to be reintroduced in diverse States to battle the next wave of Covid-19, upcountry traders are preferring to ‘wait-and-watch’ ahead of investing on fresh stocks now,” a trader explained to BusinessLine.
Exporters were being also selective for the exact same reason.
Moreover, with the North Indian teas scheduled to hit the sector in volumes in April and beyond, some upcountry traders are waiting around for fresh teas from that region ahead of obtaining in Coonoor now, traders said.
