Lakshmi Estate sets new price record at Coonoor tea auctions

Two acquired leaf tea factories triumphed at Sale No 36 of the Coonoor Tea Trade Affiliation (CTTA) auctions.

“The damaged pekoe quality of ‘Lakshmi Estate’ topped the CTTA auctions when Santhosh Tea Industries Ltd acquired it for ₹350 a kg”, Ravichandran Broos, Common Manager, Paramount Tea Advertising and marketing Pvt Ltd, who auctioned this variety, told BusinessLine.

“More importantly, this has established a record, getting the maximum price tag in all the South Indian auctions this 7 days across all categories and grades,” he observed.

“By advantage of this, we have damaged our have before record of ₹327 a kg, established up previous 7 days,” reported H Kannan, Running Partner of Bengal Look at (N) Estate Tea Manufacturing facility, which owns the ‘Lakshmi Estate’ mark.

“This is a new record as it is the maximum price tag fetched by any of our teas due to the fact production started out in our manufacturing facility in 1965,” Kannan claimed.

“The Coonoor-based Homedale Tea Manufacturing facility, which has been constantly fetching superior rates in the auctions around the several years, obtained the next maximum price tag of ₹311 a kg”, Rajesh Gupta, Running Director, International Tea Brokers, who auctioned this tea, reported.

“Two grades of Homedale Estate topped the dust tea auctions, fetching ₹306 and ₹301 a kg respectively”, he reported.

“Two leaf grades of Homedale Estate fetched ₹301 and three hundred a kg. In all, five grades of Homedale Estate fetched ₹300 and additional, per kg”, he disclosed.

These had been the only teas which entered ₹300-per kg bracket, and as a result topped the auctions this 7 days beating the rates of all other teas, CTC or orthodox, from any manufacturing facility, acquired leaf or company.