Year’s highest volume for Coonoor tea auction, helps to bridge shortfall in north Indian supplies
April 29, 2021
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The volume of 23.32 lakh kg catalogued is the highest which is 8.26 lakh kg more than the previous auction A massive increase has happened in the offer for Sale No: 17 of the auctions of Coonoor Tea Trade Association which will conclude on Friday.
The volume of 23.32 lakh kg catalogued is the highest offer in any auction so far this calendar. It is a whopping 8.26 lakh kg more than the previous auction.
The arrival of fresh teas manufactured from the green leaf plucked after the recent favourable rains as also the re-cataloguing of some teas unsold in previous weeks has resulted in the year’s highest offer this week.
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93% tea sold at Coonoor auctions
April 26, 2021
Average price crashes to year’s lowest
As much as 93 per cent of the offer at sale 16 of the auction of Coonoor Tea Trade Association (CTTA) was sold with the average price crashing to year’s lowest level of ₹114.53 a kg – just 27 paise less than the previous week.
This was the highest sale percentage among all the auctions held so far this calendar.
“With reports of drought-like situation prevailing in North Indian plantations, upcountry buyers, apprehending shortfall in supply of those teas, picked up larger volumes in our auction to build up stocks which increased the sale percentage”, CTTA Chairman L Vairavan told
QI CTTA earnings up by whopping 85%
April 20, 2021
Strong demand led to selling more volumes resulting in price rise
The overall earnings in the auctions of Coonoor Tea Trade Association (CTTA) in the first quarter of current calendar (Q1) had risen by as much as ₹ 84.94 crore or 91.43 per cent over the same months of 2020.
This has happened because of 24 lakh kg more tea being sold even as the average price rose by ₹ 47.60 a kg, reveals an analysis of the market reports.
With North Indian teas are yet to hit the market in volumes due to the winter closure of factories there, upcountry buyers as also exporters scouted for teas from the South. That was when they discovered a general improvement in the quality of the Nilgiris winter teas. So, they paid a higher price and procured a higher volume.
26% teas remain unsold at Coonoor sales
April 19, 2021
No takers despite price crashing to year’s lowest
There were no takers for about 26 per cent of the offer worth ₹ 5.60 crore at Sale No: 15 of the auction of Coonoor Tea Trade Association despite the average price crashing to year’s lowest level of ₹ 114.80 a kg.
On the one hand, the volume offered – 18.65 lakh kg – was the year’s second highest quantity.
On the other, demand was not matching this supply as some upcountry buyers said that before investing on high priced teas, they would wait to see if there would be any trade restrictions in the wake of second wave of Covid-19.