Select buying by blenders hit tea prices in Coonoor auctions
Selective buying by blenders has affected tea prices especially traditional leaves at Coonoor Tea auctions, with the average price dropping from $2 to $3 per kilogram.
Traders said master mixers would prefer to opt out of auctions, while trading saw an improvement in volumes for sale 18.
Thanks to widespread rainfall in the production centers, dealers are expecting larger quantities at the next auction.
In CTC papers, higher priced and better wines were in lower demand and sold for as low as $6 to ₹8 with fair withdrawals. The better mediums were also $3 to $4 lower. The mediums and simpler saw prices drop by $3 to $4, Global Tea Auctioneers said.
In orthodox papers, the initial full leaf scores were barely constant to the most expensive sometimes by $2 to $3 in keeping with quality.
In CTC dust, alcoholic beverages were expensive and better $6-$8. The better medium ones were in lower demand and sold easier at 4 to 5 rupees. In general, lower demand is observed in the total sale of CTC dust.
The initial orthodox dust grades were generally lower at 4 to 5 rupees, and some higher quality pieces sometimes sold more expensive than 5 to 6 rupees.
The quantity offered in paper grades amounted to 10,04,571 kg, with a sales rate of 86%. In dust shows, the number was 4,15,377 with 76 percent sold out. In dust grades, the Homedale Estate-RD fetched the highest at $317.