Lower demand and elevated arrivals coupled with modification within the public sale system dragged tea prices at Coonoor tea auctions, which witnessed ₹4-5 kg drop in common value realisation.
The share of tea offered in sale 20 was additionally down at 74 per cent within the leaf class in comparison with 86 per cent within the earlier sale, whereas the drop in mud gross sales was round 16 per cent, merchants stated.
The drop in common value realisation in mud gross sales was round ₹4 at ₹109 in comparison with ₹113 within the earlier week.
Good quantity of withdrawals
According to merchants, tea prices in virtually all forms of teas have dropped with an excellent quantity of withdrawals.
They cited the modification within the public sale system by the Tea Board as the rationale for the downward value pattern despite the fact that it has been launched to hurry up the gross sales course of.
Global Tea Auctioneers stated the amount provided in leaf sale was 13,29,064 kg, whereas in mud it was 6,36,377 kg.
In CTC leaf, high-priced and higher liquoring types have been decrease by ₹6 to ₹8 with some withdrawals. The higher medium types have been additionally simpler by ₹3 to ₹4 with honest withdrawals. The mediums have been additionally decrease by ₹4 to ₹5 with a good quantity of teas being out-listed attributable to an absence of bids.
In leaf orthodox, the first complete leaf grades have been simpler by ₹6 to ₹8, and infrequently some high quality tons offered dearer by ₹4 to ₹5. The brokens have been decrease by ₹4 to ₹5.
The high-priced and higher liquoring types in CTC mud have been decrease by ₹8 to ₹10 and extra at instances. The main orthodox mud grades have been usually simpler by ₹5 to ₹6, whereas secondaries and finer dusts have been barely regular to simpler by ₹2 to ₹3 and extra at instances.