The volume offered for the first auction of December of Coonoor Tea Trade Association to be held on Thursday and Friday has risen to 19-week high, reveals an analysis of brokers’ listing.
In all, 14.93 lakh kg has been catalogued for Sale No: 49. It is as much as 3.99 lakh kg more than last week’s offer and about 70,000 kg more than the offer this time last year.
Of the 14.93 lakh kg on offer, 10.69 lakh kg belongs to the leaf grades and 4.24 lakh kg belongs to the dust grades. As much as 14 lakh kg belongs to CTC variety and only 0.93 lakh kg, orthodox variety. In the leaf counter, only 0.49 lakh kg belongs to orthodox while 10.20 lakh kg, CTC. Among the dusts, only 0.44 lakh kg belongs to orthodox while 3.80 lakh kg, CTC.
Fresh tea accounts for 14.72 lakh kg while about 21,000 kg comprises teas which had remained unsold in previous auctions.
Last week, in the leaf tea auction, Hindustan Unilever Ltd (HUL) and Tata Global Beverages Ltd bought good medium varieties. Duncans Tea Ltd showed interest on good medium brokens. Godfrey Philips India Ltd was selective. There was good demand from exporters for medium and plainer varieties. Internal buyers were less active.
In the dust tea auction, HUL and Tata Global bought good medium varieties. Indcoserve showed interest on medium smaller grades. Exporters preferred medium and plainer varieties. Internal buyers were fairly active.
There was good demand for brighter liquoring teas from upcountry buyers.