Sage Investment Club

Blenders’ support coupled with lower arrivals lifted prices of selected tea varieties at Coonoor Tea auctions. According to traders, offerings were lower in sale 52 because of declining crop in many production centres due to winter. The primary whole leaf grades in the orthodox section witnessed a fair demand and were steady to dearer by ₹2-3 more at times in line with quality in sale 52. In CTC leaf, the high-priced and better liquoring sorts had fair demand and were steady to dearer by ₹2-3. Generally, a fair demand was noticed in the overall CTC leaf sale.The quantity offered in leaf varieties was 9,49,630 kg in which 90 per cent of tea was sold, said Global Tea Auctioneers. Related StoriesNo separate relief scheme for Darjeeling Tea: MinisterCheaper imports of Nepal tea under the trade agreement had caused damage to high-class Darjeeling Tea
Higher production
In dust grades, high-priced and better liquoring sorts in CTC sold dearer by ₹3-4. The medium and plainer was lower by ₹1-2.The primary orthodox dust grades sold around last levels, while secondaries and finer dust was dearer by ₹1-2.The offered quantities in dust grades was 3,28,013 kg and 86 per cent was sold. According to Rajesh Gupta, Managing Director of Global Tea Auctioneers, South India Tea production was higher by 4.45 million kg in November 2022 compared to November 2021. At the same time, it was lower by 4.66 million kg between January 2022 and November 2021. All major black tea-producing countries produced more tea in November 2022 than November 2021. India (11.8 million kg), Sri Lanka (0.24 million kg), Kenya (2.26 million kg), Bangladesh (0.60 million kg), and Malawi (0.30 million kg)Related StoriesSynthite launches 100% water-soluble green teaThe company claims that this is the first cold-crafted tea of its kind in the world SHARE
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