Date:11/10/2005 URL: http://www.thehindubusinessline.com/2005/10/11/stories/2005101102471200.htm

Back Tea prices improve marginally at Coonoor auctions

P.S. Sundar

Coonoor , Oct. 10

SUPPORT from exporters and the western markets helped prices improve marginally at the auctions of the Coonoor Tea Trade Association (CTTA) here during the weekend when a volume of 12.05 lakh kg was offered for sale.

Pakistan buyers bought the clean black grades paying up to Rs 37 a kg, while the CIS purchasers paid up to Rs 34. Exporters to Iraq bought smaller grades - BP, BPS - paying up to Rs 32.

Buyers from the western Indian markets picked up brighter liquoring teas paying higher prices contending that there was a general shortage of such teas.

They picked up teas in the range of Rs 55-65. On the corporate front, Hindustan Lever Ltd (HLL) bought the better medium varieties, but was selective. Tata Tea operated on the lower end of the market. The defence buyer was also selective.

Around 6,000 kg were sold for over Rs 60 a kg. Darmona Estate topped the CTC teas from bought leaf factories fetching Rs 96.06 a kg. "Professor" came second at Rs 75.13, while Highfield Special Tea got Rs 75.

On the corporate front, the orthodox teas of Kodanad BOPD clonal fetched Rs 133.51 a kg. Curzon got Rs 127, while Corsley earned Rs 118.81 for one grade and Rs 117 for another. Chamraj got Rs 110, Mailoor Rs 108 and Havukkal, Rs 106. In all, around 1,000 kg would have got more than Rs 100 a kg.