Homedale Tea Factory, a purchased leaf factory, set a new price record at Coonoor Tea Trade Association auction sale S7 (CTTA). "Our Red Dust grade, auctioned by Global Tea Auctioneers Pvt Ltd., (GTAPL), topped the auctions when Tea Services India Pvt Ltd., purchased it for 400 per kg.”
“This is the highest price paid for any tea in CTTA's regular category so far this year. It is also the highest price paid for any of our teas since production began in our factory in 1949," Homedale Managing Partner Raman Menon told.
GTAPL auctioned off two other Homedale Dust grades for $371 each. Homedale's two grades, auctioned by GTAPL, topped at 360 and 331 in the CTC Leaf tea auctions.
Crosshill Estate Special received 310 points, Pinewood Estate 278 points, Vigneshwar Estate 270 points, and Darmona Estate 266 points, among other CTC teas.
Chamraj received 246, Nonsuch Orthodox 237, Kairbetta 235, and Erinkadu 200 among orthodox teas. Export participation was extremely limited. "As a result of the Russia-Ukraine conflict, orders from Russia and Europe have virtually dried up."
Protests blocking road transport in Canada against mandatory vaccination orders, as well as frozen water and roadways in the United States, have impacted the tea movement, according to L Vairavan, an exporter.
"Additionally, inconsistency in the screen display of the auction lots due to cloud server issues in the newly introduced Bharath Auction module impacted exporters' active participation," he noted. As a result, teas worth Rs.4.73 crore were withdrawn because there were no takers for up to 32% of the offer. This was the most expensive tea withdrawn in recent months.
About Global Tea Auctioneers Pvt. Ltd
Global Tea Auctioneers Pvt. Ltd. is a well-established and professionally managed Tea Auction Brokerage Company based in the Southern Indian towns of Coonoor (TN), Coimbatore (TN), and Cochin (Kerala).
Global Tea is a forward-thinking company that caters to the industry's emerging needs and explores new opportunities. Tea Sellers and Tea Buyers can rely on the Global Tea team for professional tea auctioning and broking services.
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