The fourth Coonoor Tea Trade Association auction of 2019 has observed a rising trend in the auctions since the beginning of this calendar. This trend is continued at Sale No: 4 when the average price rose to the six-week high of Rs 101.25 a kg. This is the third consecutive week, average prices ruled above Rs 100/kg. Also, this price is the best price in the past six weeks.
Despite the price of tea has risen from the previous auctions, even though about 82 percent of the offer was absorbed due to higher demand from upcountry buyers arising from low supplies in North Indian teas.
The Coonoor-based small-scale factory Homedale Estate’s Super Red Dust CTC tea, auctioned by Global Tea Brokers, topped the entire auctions when Ajmath Traders, bought it for Rs 256 a kg. It surpassed all grades of teas from all other factories, including the orthodox teas from the corporate sector. No other CTC tea could enter the high-price bracket of Rs 200/kg.
Among orthodox teas, Kodanad topped at Rs 251 a kg followed by Chamraj Rs 246, Kairbetta Rs 241, Havukal Rs 207 and Corsley Rs 202.