The falling trend witnessed last few weeks in the offer for Coonoor Tea Trade Association auction continues for Sale No: 38 to be held on Thursday and Friday.
A volume of 12.52 lakh kg has been catalogued – among the lowest so far in 2014. It is some 84,000 kg less than the offer of last week.
Of this, a volume of 8.46 lakh kg belongs to the leaf grades and 4.06 lakh kg belongs to the dust grades. As much as 11.58 lakh kg belongs to CTC variety and only 94,000 kg, orthodox variety. In the leaf counter, only 41,000 kg belongs to orthodox while 8.05 lakh kg, CTC. Among the dusts, only 53,000 kg belongs to orthodox while 3.53 lakh kg, CTC. With substantial volumes remaining unsold in previous auctions, as much as two lakh kg of such teas are being re-offered this week.
In the Leaf auction last week, among corporate buyers, Hindustan Unilever Ltd bought brighter liquoring varieties. Tata Global Beverages Ltd., was fairly active on good medium sorts. Godfrey Philips India Ltd showed some interest on medium brokens.
Duncans Tea Ltd bought some good medium brokens. In the Dust auction, HUL was fairly active on good medium smaller grades. Godfrey Philips was fairly active on medium smaller grades. Indcoserve expressed interest for good medium smaller grades. There was good demand for brighter liquoring teas from upcountry buyers.
Overall, internal buyers were less active. Exporters chose mostly plainer grades.