Buoyancy continued for the third consecutive week at the auctions of Coonoor Tea Trade Association which ended on Friday with the turnover rising to 19-week high.

The market faced pressure for brighter liquoring teas from upcountry buyers as they had to pay around Rs 152 a kg for North Indian CTC teas while they could obtain CTC teas in Coonoor auction for Rs 89 a kg. Similarly, they had to pay Rs 176 a kg for North Indian orthodox teas while they could buy orthodox teas at Coonoor auction for Rs 94.

Due to increased demand, the overall prices rose to an average of Rs 92.42 a kg from Rs 89.27 last week. This was the highest price obtained since May 31.

In all, 13.91 lakh kg was sold against 12.50 lakh kg last week. This was the highest volume sold in 17 weeks.

Consequently, the turnover rose to Rs 12.86 crore from Rs 11.16 crore last week. This marked an increase of as much as Rs 1.70 crore or 15.23 per cent in one week, reveals an analysis of the market reports. This was the highest turnover in 19 weeks.

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