Tea prices at Coonoor auctions dip on sluggish demand, improved arrivals
A subdued demand coupled with increased arrivals hit tea prices in Coonoor auctions, with all major grades witnessed a lower sales percentage.
Global Tea Auctioneers said that the sales percentage in leaf grades was only 59 out of the offered quantity of 24,08,299 kg, while in dust grades, it was 47 per cent out of the offered quantities of 5,94,631 kg.
Traders said blenders were active but the holiday mood in North India because of Puja has resulted in lower demand from upcountry markets. The West Asia crisis also impacted tea exports, especially orthodox grades.
All-around drop
The high-priced and better liquoring sorts in CTC leaf was lower by ₹4 to ₹5 and more at times with fair withdrawals, occasionally some quality lots sold dearer by ₹3 to ₹4 as well. The better medium sorts had less demand and sold easier by ₹4 to ₹5. The mediums and plainer sorts of bolder grades were also lower by ₹5 to ₹6 with heavy withdrawals. Generally, a less demand for teas noticed in the overall CTC leaf sale.
The primary whole leaf grades in leaf orthodox were generally lower by ₹6 to ₹8, while primary brokens sold easier by ₹6 to ₹8.
The high priced and better liquoring sorts in dust CTC were lower by ₹8 to ₹10. The better were lower by ₹6 to ₹7.
The primary orthodox dust grades were lower by ₹6 to ₹8 and more at times with some withdrawals. The secondaries and finer dusts were also easier ₹4 to ₹5.