Coonoor tea public sale prices crash to yr’s lowest by admin- Thursday, June 24th, 2021 08:14:02 AM
Low prices push up income to over 81%
For the primary time in more than a yr, the average fee at the auctions of Coonoor Tea Trade Association dropped beneath ₹100 a kg and dipped to ₹ninety eight.Seventy five a kg at Sale No: 24.
From June 12, 2020, at every public sale, the average rate dominated above ₹one hundred a kg ordinarily because of improved call for arising from the great perception that tea allows to build immunity inside the backdrop of Covid-19 spreading like wildfire throughout the globe.
At this week’s auctions, eighty one.Eighty one consistent with cent of the offer became bought helped by the fee crash.
The extent offered rose to 20.41 lakh kg from 15.36 lakh kg within the preceding auction with the average rate losing to ₹98.Seventy five a kg from ₹111.86. The better volume helped the general income to upward thrust to ₹20.15 crore from ₹17.18 crore – an boom of ₹2.Ninety seven crore or 17.29 in line with cent in only one week.
“The green tea from Pascoes Woodlands crowned the entire auctions while Radhika Traders sold it for ₹302 a kg,” Ravichandran Broos, General Manager, Paramount Tea Marketing (SI) P Ltd., who auctioned this tea, informed BusinessLine.
Kodanad orthodox got ₹280 a kg, Chamraj ₹256, Glendale ₹230, Nonsuch Orthodox ₹225, Kairbetta ₹210 and Mailoor ₹2 hundred.
In CTC Leaf auctions, Homedale Estate’s Broken Pekoe grade, auctioned by using Global Tea Brokers, crowned whilst Shree Ganesh Tea Trading Co offered it for ₹280 a kg.
In CTC Dust auctions, Homedale Estate’s Red Dust grade, auctioned by way of Global Tea Brokers, topped whilst Tea Service India Pvt Ltd., sold it for ₹280 a kg.
Among other CTC teas, Pinewood Estate got ₹226, Riverside Estate ₹206, Bellatti Estate and Vigneshwar estate ₹201 each and Crosshill Estate Special ₹200.