A subdued export demand seems to have been reflected in the Coonoor tea auctions as well with declining prices for orthodox leaves.
Traders pointed out that unsold quantities in the North Indian market, which was on the rise, have affected the market sentiment here too. The rising unsold quantities in the auctions will take a little more time to settle.
Global Tea Auctioneers said the primary whole leaf grades were lower by ₹3 to ₹4 and more at times with some withdrawals.
The brokens also had less demand and were sold lower by ₹4 to ₹5 and more at times with a fair amount of teas being out-listed due to lack of bids. The secondaries and Fannings also had less demand sold lower by ₹5 to ₹6 and more at times.
The quantity offered in leaf grades was 13,98,530 kg, and of this, 78 per cent was sold.
In CTC dust, high-priced and better liquoring sorts had less demand and sold easier by ₹3 to ₹4 and more at times with some withdrawals.
The better medium sorts had less demand and sold lower by ₹4 to ₹5 with fair withdrawals. The mediums and plainer sorts had very less demand and were lower by ₹5 to ₹6 and more at times with heavy withdrawals due to lack of bids.
The quantity offered was 4,83,077 kg and only 63 per cent was sold. Generally, very less demand was noticed in the overall CTC dust sale, the auctioneer said.
The primary orthodox dust grades had fair demand and sold fully firm to dearer by ₹2 to ₹3 and more at times in line with quality. The secondaries and finer dust were lower by ₹2 to ₹3.