Tea prices crashed to an average of ₹ninety one.60 a kg at Sale No: 29 of the auctions of Coonoor Tea Trade Association. This turned into the bottom of no longer best all of the auctions held up to now this calendar however considering March 20, 2020, whilst the common rate changed into ₹82.32 a kg.

This is due to insufficient call for from both the domestic shoppers and exporters.

Traders said that commercial enterprise turned into affected because of torrential rains forcing traders to preserve their doors shut in lots of States including Maharashtra, Delhi, Telangana, Punjab, Tamil Nadu, Kerala and Karnataka.

Exporters stated that heavy rains in many nations in Europe, China and the United States caused much less orders from importers.

With fewer orders, producers should push up sales best by means of sacrificing fees. “The green tea from Pascoes Woodlands topped the complete auctions whilst Radhika buyers offered it for ₹300 a kg – the only tea to the touch ₹three hundred/kg mark this week”, Ravichandran Broos, General Manager, Paramount Tea Marketing, told BusinessLine.

Among orthodox teas, Glendale got ₹240 a kg, Kodanad ₹238, Kil Kotagiri ₹202 and Brookelands Gold, Nonsuch Orthodox and Siruvani ₹201 each.

Among CTC teas, Homedale Red Dust grade, auctioned by means of Global Tea Brokers, crowned when Nishanthi Traders bought it for ₹296 a kg.

Homedale Estate’s Broken Orange Pekoe grade, auctioned through Global Tea Brokers, topped the Leaf tea auctions at ₹ 270 a kg.

Crosshill Estate top rate got ₹ 225 and Vigneshwar Estate ₹ 201.

Overall, about eighty five in keeping with cent of the provide was bought but due to the decrease fee, the general income dropped by way of rune one crore in just a week.