Export order cancellation by an overseas buyer has hit orthodox leaf prices in Coonoor tea auctions as well with prices declining to ₹5 to ₹6 for whole leaf grades.
According to traders, the brokens were lower by ₹6 to ₹8 and more at times, while secondaries and fannings declined by ₹2 to ₹3 in sale 12. The primary whole leaf grades had less demand and sold easier by ₹5 to ₹ 6 and more at times with some withdrawals.
Traders said quality-related issues in the export consignment are reported to be the reason for the stoppage of the purchase and this particular buyer has procured a good quantity of orthodox leaves from Kochi, Coimbatore, and Coonoor auctions to meet the demand of a government contract. .
Also read: Despite low arrivals, prices continue to drop at Coonoor Tea auctions
The sales percentage in leaf varieties was low at 78 per cent against an offered quantity of 7,84,119 kg, while in dust, it was 94 per cent out of the 2,77,525 kg offered for sale.
Global Tea Auctioneers said high-priced and better liquor sorts were generally easier by ₹3 to ₹4 and more with some withdrawals. The better medium sorts were barely steady to occasionally easier by ₹1 to ₹2.
However, in CTC dust, high-priced teas were dearer by ₹3 to ₹4 and more at times. Generally, a good demand was noticed in the overall CTC dust sale.
In orthodox dust, primary orthodox dust grades were lower by ₹5 to ₹6 and more at times. The secondaries and finer dusts were barely steady around the last levels.
Also read: Orthodox tea prices rise at Kochi auctions on shortage, export demand