Coonoor tea prices decline on higher arrivals, slack demand

High access and low demand have led to lower tea prices at Coonoor auctions resulting in a lower average realization price.

According to the traders, the market was in a downtrend selling 21 and there was better selling activity at these levels. Sales increased thanks to increased access to tea from production centers. Average price realization decreased by $4 in the paper category at Rs 93.10 as compared to Rs 97.57 last week. In dust prices, the decline was around 3 rupees at 106 rupees compared to 109 rupees in the previous week.

Global Tea Auctioner said the quantity offered in the leaf category was 13,56,823 kilograms, of which 88 percent were sold. The quantity offered in the dust amounted to 5,93,385 kilograms, and 77 percent of it was sold.

Higher withdrawals

In CTC papers, higher priced and better alcoholic beverages were generally $5-6 easier with higher withdrawal volumes. The better intermediate ones were also $3 to $4 less. The medians and higher lows were also 3-4 t lower.

In orthodox papers, the initial full leaf scores were $5-6 lower. Brokers have been easier with $4-5 with fair withdrawals.

High-priced and better CTC-dusted wines were generally 6 to 8 lower. Better mid-ranges were also $3 to $4 easier.

The initial orthodox dust grades were barely steady to more expensive by $5-6 and sometimes more in keeping with the quality. Seconds and fine dust were 2-3 lower with heavy clouds.