Volume provided for tea public sale this week up 2.22 lakh kg by admin- Thursday, March 10th, 2022 07:59:15 AM
Exporters, however, are worried over Russia-Ukraine conflict
Even as the call for and offtake, mainly from exporters, has remained subdued since the Russia-Ukraine conflict broke out on February 24, the quantity of tea supplied for Sale No: 10 of the auctions of Coonoor Tea Trade Association to be held on Thursday and Friday has risen to a few of the highest of the latest weeks.
A quantity of 17.Sixty six lakh kg has been catalogued that’s as plenty as 2.22 lakh kg extra than the ultimate week’s provide.
Although this consists of teas last unsold in previous auctions, sparkling arrival has picked up because of accurate harvest and manufacturing in February.
“The rainfall within the final week of January has formed the February production favourably. Prolonged daylight hours and moderate temperature helped to growth the production with the aid of as a whole lot as 73 consistent with cent in comparison to ultimate year. Most agro-zones reported the highest productivity of the ultimate twenty years,” KG Udaya Bhanu, Deputy Director of UPASI Tea Research Foundation, stated.
Growing exporters’ issues
“Russia is even threatening nuclear warfare. It has pop out with a list of ‘enemy’ international locations. Exporters ae no longer prepared to threat delivery to unsure destinations. So, it is not simply the volume on provide which matters now,” an exporter L Vairavan stated.
And, in the absence of opposition from exporters, upcountry consumers do now not bid excessive.
Of the 17.Sixty six lakh kg supplied for this week’s auctions, as an awful lot as 16.50 lakh kg belongs to CTC variety and best 1.Sixteen lakh kg orthodox range.
The percentage of orthodox teas continues to be low in both leaf and dirt grades. In the leaf tea counter, best 74,000 kg belongs to orthodox, whilst eleven.Seventy nine lakh kg CTC.
Among the dust tea, simplest 42,000 kg belongs to orthodox, while four.Seventy one lakh kg CTC. In all, 12.Fifty three lakh kg belongs to Leaf grades and 5.13 lakh kg Dust grades.
Homedale Tea Factory created a brand new price file final week while its Broken Orange Pekoe leaf grade, auctioned by means of Global Tea Auctioneers Pvt Ltd (GTAPL), become offered by using Sree Sai Corporation for ₹407 a kg.
In the CTC dirt tea auctions, grades of Homedale Estate, auctioned with the aid of GTAPL, topped at ₹380 and ₹371. All other grades got less than ₹ 300/kg.
Among other CTC teas, Crosshill Estate Special were given ₹290, Darmona Estate and Pinewood Estate ₹260 each, Hiribil Excel ₹252 and Vigneshwar Estate 236.
Quotations with the brokers indicated ₹76-81 a kg for simple Leaf grades and ₹ 141-203 for the first-class grades.
For undeniable Dust grades, they ranged ₹ seventy five-eighty and for the high-quality grades, ₹ one hundred forty-207.