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The falling trend witnessed in the absorption rate at Coonoor Tea Trade Association auctions in the last one month continued this week with only 69 per cent being sold at Sale No: 17 against 74 per cent in the previous sale.
Slack demand
Due to inadequate demand, as much as 31 per cent of the nine-week high offer of 13.44 lakh kg remained unsold despite dropping prices by Rs 2 a kg.
CTC teas
Crosshill Estate topped the CTC market at Rs 176.
“Our four leaf grades and three dusts grades fetched Rs 159 and more a kg,” Crosshill Operations Head Dinesh Raju told Business Line.
Homedale Estate tea, auctioned by Global Tea Brokers, topped Leaf market at Rs 171 a kg. Hittakkal Estate got Rs 167 and Vigneshwar Estate Rs 166.
In all, 73 CTC marks got Rs 125 and more.
orthodox teas
Among orthodox teas, Chamraj got Rs 250, Highfield Estate Rs 185, Kairbetta Rs 180, Corsley Rs 177 and Kilkotagiri Rs 175.
In all, 31 marks got Rs 125 and more.
exports
On the export front, Pakistan did not buy.
The CIS gave selective support for Rs 85-94.
prices
Quotations held by brokers indicated bids ranging Rs 80-85 a kg for plain leaf grades and Rs 115-150 for brighter liquoring sorts.
They ranged Rs 85-88 for plain dusts and Rs 130-160 for brighter liquoring dusts.
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