Teas worth about ₹4.19 crore remained unsold at Sale No 31 of the auctions of Coonoor Tea Trade Association since there have been no takers for as a great deal as 24 per cent of the give.
This was irrespective of the average value crashing to ₹90.43 a kg – the cheapest value not only among all the auctions held so much this calendar but the the very least because March 20, 2020. The quantity marketed dropped to thirteen.37 lakh kg – the cheapest of the final 4 months.
With quantity marketed currently being considerably less and the costs remaining very low, the total earnings dropped to ₹13.37 crore from the preceding week’s ₹15.fourteen crore. This intended that the earnings dropped by ₹1.seventy seven crore or eleven.69 per cent in just one particular week. In the final 3 months, producers and traders have misplaced ₹5.86 crore in their total earnings.
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Torrential rains and numerous levels of lockdown to battle from Covid-19 have impacted trade in several States as also in various countries. Apart from the wildfire in some countries have impacted enterprise functions and goods movement there. These have decreased the orders on hand, traders and exporters reported. Collectively, the desire and value for teas at the CTTA auctions have been tellingly very low.
No tea could cross ₹300/kg amount at this week’s auction. The Purple Dust grade of bought leaf manufacturing unit, Homedale Estate, auctioned by International Tea Brokers, topped the overall auctions when Tea Companies India Pvt Ltd bought it for ₹294 a kg.
The Purple Dust grade from another bought leaf manufacturing unit, Crosshill Estate, auctioned by International Tea Brokers, fetched the 2nd maximum value of ₹240 a kg. Pinewood Estate received ₹236. Amongst orthodox teas, Glendale received ₹233, Havukal and Kairbetta ₹ 217 each, Kodanad ₹215, Chamraj ₹206 and Kil Kotagiri ₹200.