February 28, 2024

Justice for Gemmel

Stellar business, nonpareil

Massive fall in offer for post Pongal tea auction

The leaf tea auctions of Coonoor Tea Trade Affiliation held on Thursdays will be held this 7 days together the Dust tea auctions on Friday as the industry will continue being shut for Pongal celebrations on Thursday.

For this Sale No: 2 to be held on Friday, a quantity of sixteen.63 lakh kg has been catalogued. This is as considerably as 2.38 lakh kg fewer than the provide for Sale No: 1.

Of the sixteen.63 lakh kg available for this week’s auctions, as considerably as fifteen.sixty lakh kg belongs to CTC variety and only 1.03 lakh kg orthodox variety. The proportion of orthodox teas continues to be very low in equally leaf and dust grades. In the leaf tea counter, only 72,000 kg belongs to orthodox though 11.08 lakh kg, CTC. Among the dust tea, only 31,000 kg belongs to orthodox though 4.52 lakh kg, CTC. In all, 11.80 lakh kg belongs to Leaf grades and 4.eighty three lakh kg, dust grades.

Also study: Coonoor tea auctions start 2021 with report charges

Two purchased leaf factories – Homedale and Crosshill – fetched report charges previous 7 days. Auctioned by World-wide Tea Brokers (GTB), Homedale topped at ₹381 a kg and Crosshill followed at ₹322. “Both had been the best price fetched these factories at any time given that manufacturing begun in them,” GTB Controlling Director Rajesh Gupta explained to BusinessLine.

“Besides, two grades of Crosshill teas, auctioned by GTB, topped the CTC dust tea auctions fetching ₹234 and ₹225 every,” he reported.

Quotations with the brokers indicated ₹110-117 a kg for simple leaf grades and ₹167-226 for the finest grades. For simple dust grades, they ranged ₹119-a hundred twenty five and for the finest grades, ₹171-225.