As considerably as 93 for each cent of the present at sale 16 of the auction of Coonoor Tea Trade Affiliation (CTTA) was offered with the average selling price crashing to year’s least expensive level of ₹114.53 a kg – just 27 paise much less than the former 7 days.
This was the best sale percentage between all the auctions held so significantly this calendar.
“With reviews of drought-like scenario prevailing in North Indian plantations, upcountry purchasers, apprehending shortfall in supply of all those teas, picked up much larger volumes in our auction to establish up shares which improved the sale percentage”, CTTA Chairman L Vairavan informed BusinessLine.
“Traders in several States also desired to establish shares to cater to their customers’ needs if disruption in buying and selling functions transpire due to lockdown”, he defined.
“Besides, the in general belief between consumers in India and overseas that tea can help to establish immunity propelled higher demand from customers at our auctions this 7 days due to the unfold of 2nd wave of Covid-19 in several places. These improved demand from customers occurred for our teas during lockdown very last calendar year also”, he noticed.
The Pink Dust grade of Homedale Estate, auctioned by Global Tea Brokers, topped the full auctions this 7 days when Nishanthi Traders purchased it for ₹ 301 a kg. This was the only tea, CTC or orthodox, from purchased leaf or company sector, which crossed ₹300/kg mark this 7 days.
Among other CTC teas, Pinewood Estate received ₹ 252, Crosshill Estate Unique ₹ 215 and Bellati Estate ₹ 201.
Among orthodox teas, Kodanad received ₹ 278, Kairbetta ₹ 271, Havukal ₹ 240, Nonsuch Orthodox ₹ 231, Kil Kotagiri ₹ 218, Devashola ₹ 207, Mailoor ₹ 203 and Glendale ₹ two hundred.