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.
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
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.
Over 83% Coonoor tea sold as prices nosedive to year’s lowest
April 13, 2021
Overall earnings up by ₹3.68 crore in just one week to reach ₹16.06 crore
With the average price crashing to ₹ 117.64 a kg the lowest so far this calendar as much as 83.09 per cent of the offer at sale 14 of the auction of Coonoor Tea Trade Association was sold.
This resulted in the overall earnings to rise by ₹ 3.68 crore or 29.73 per cent in just one week to reach ₹ 16.06 crore.
Homedale Estate’s Pekoe Dust grade, auctioned by Global Tea Brokers, topped the entire auction when Dhruv Enterprises bought it at ₹ 317 a kg. Homedale Estate’s Red Dust grade, auctioned by Global Tea Brokers, followed at ₹ 303. These were the only teas which crossed ₹ 300/kg mark.
Prices crash to year’s lowest in Coonoor tea auctions
April 05, 2021
Still, 30% teas worth ₹ 5.28 cr unsold due to less demand
Despite the average price crashing to ₹120.11 a kg – the lowest so far this calendar, there were no takers for about 30 per cent of the offer at Sale No: 13 of the auction of Coonoor Tea Trade Association as the demand was less due to Good Friday / Easter holidays.
Consequently teas worth about ₹5.28 crore remained unsold.
Homedale Estate’s Red Dust grade, auctioned by Global Tea Brokers, topped the entire auction when GLT Enterprises bought it at ₹305 a kg.
Among other CTC teas, Pinewood Estate got ₹302, Crosshill Estate Special ₹ 220, Vigneshwar Estate ₹ 219 and Hittakkal Estate ₹ 206,