February begins on better note for Coonoor tea auction
February 08, 2021
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February has begun on a better note for tea trade in The Nilgiris as the earnings at the first auction for the month conducted by Coonoor Tea Trade Association rose to ₹16.35 crore from ₹13.90 crore in the last auction of January.
This means, the earnings increased by ₹2.45 crore in just one week – in the first auction after the Budget was presented.
This happened because 12.19 lakh kg was sold against 10.51 lakh kg in the previous week despite the average price rising to ₹ 134.11 per kg from ₹ 133.25 in end January.
After two weeks, price crossing ₹ 300/kg was noticed. The Red Dust grade tea of bought leaf factory Homedale Estate, auctioned by Global Tea Brokers, topped the entire auctions this week when Dhruv Enterprises bought it for ₹ 301 per kg.
February 03, 2021
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Teas worth ₹ 4.13 crore remained unsold at Sale No: 4 of the auctions of Coonoor Tea Trade Association (CTTA) as there were no takers for about 23 per cent of the offer despite the average price dropping to ₹ 132.25 a kg – the lowest so far in calendar 2021.
The demand was generally less compared to the previous weeks as upcountry buyers and exporters turned selective for some grades.
For the second consecutive week in 2021, no tea could cross ₹ 300/kg mark.
The Pekoe Dust grade of the bought leaf tea factory, Crosshill Tea Factory, auctioned by Global Tea Brokers, topped the entire auctions when Shreeji Traders bought it for ₹ 263 a kg.
Offer for Coonoor tea auction down by 2.32 lakh kg
January 27, 2021
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A total volume of 13.75 lakh kg has been catalogued for Sale No: 4 of the auctions of Coonoor Tea Trade Association to be held on Thursday and Friday. This is 2.32 lakh kg less than the offer for the previous auction.
Of the 13.75 lakh kg offered for this week’s auctions, as much as 12.98 lakh kg belongs to CTC variety with only 77,000 kg orthodox variety. The proportion of orthodox teas continues to be low in both leaf and dust grades. In the leaf tea counter, only 51,000 kg belongs to orthodox while 9.28 lakh kg, CTC. Among the dust tea, only 26,000 kg belongs to orthodox while 3.70 lakh kg is CTC. In all, 9.79 lakh kg belongs to Leaf grades and 3.96 lakh kg is Dust grades.
Nearly 71% tea sold at coonoor auctions
January 18, 2021
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A new price record was set up by the bought leaf Factory, Homedale Tea Factory, at Sale No: 2 of the auctions of Coonoor Tea Trade Association.
“Our Red Dust grade, auctioned by Global Tea Brokers (GTB), topped the entire auctions when Badhusha Tea Co., bought it for ₹ 383 a kg”, Raman A Menon, Homedale’s Managing Partner told
BusinessLine.
“Consequently, we have broken our last week’s price record of ₹ 381. This is a new record as it is the highest price fetched by any of our teas since manufacturing started in our factory 72 years ago”, he said.
Massive fall in offer for post Pongal tea auction
January 13, 2021
× The leaf tea auctions of Coonoor Tea Trade Association held on Thursdays will be held this week along the Dust tea auctions on Friday as the market will remain closed for Pongal celebrations on Thursday.
For this Sale No: 2 to be held on Friday, a volume of 16.63 lakh kg has been catalogued. This is as much as 2.38 lakh kg less than the offer for Sale No: 1.
Of the 16.63 lakh kg offered for this week’s auctions, as much as 15.60 lakh kg belongs to CTC variety and only 1.03 lakh kg orthodox variety. The proportion of orthodox teas continues to be low in both leaf and dust grades. In the leaf tea counter, only 72,000 kg belongs to orthodox while 11.08 lakh kg, CTC. Among the dust tea, only 31,000 kg belongs to orthodox while 4.52 lakh kg, CTC. In all, 11.80 lakh kg belongs to Leaf grades and 4.83 lakh kg, dust grades.