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Prices continued to crash at Coonoor Tea Trade Association auctions hitting the year’s second lowest average of Rs 72.40 a kg at the penultimate sale of 2013 just 27 paise more than the lowest average of Rs 72.13 on Nov 8.
Prices ruled as much as Rs 24 less compared to this time last year.
Prices crashed when producers lowered the asking price to liquidate piling unsold stocks.
Homedale Estate tea, auctioned by Global Tea Brokers, topped the CTC market when M M Enterprises bought it for Rs 190 a kg. Highfield Estate topped orthodox market at Rs 240 a kg .
Pakistan bought between Rs 56 and 81 . Quotations held by brokers indicated bids ranging Rs 55-59 a kg for plain leaf grades and Rs 100-125 for brighter liquoring sorts. They ranged Rs 62-65 for plain dusts and Rs 120-170 for brighter liquoring dusts.
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