Posts Tagged ‘Glendale’

Pepper Futures Remain Unchanged :|

The pepper futures market witnessed high volatility on different “buy and sell calls“. Finally it closed just about steady on weak demand amid thin arrivals.

“There was no pressure on spot as all were seen prepared to switch over and going for additional buying as spot was not available,” market sources said.

“Good badla was taking place,” they said. Investors were offering spot at reduced discount of Rs 200 per quintal below the January price but there were no takers.

Processors in the primary markets and inter-State operators were buying from the primary markets and moving the material out to Tamil Nadu where no tax is levied on the commodity. From there the material is shifted to Bihar, Jharkhand, UP, West Bengal etc., where the local taxes are said to be at 12 per cent and therefore the dealers there do not buy on account, according to the sources.

In other major commodity update Coonoor auctions remains unsatisfactory

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Coonoor auctions remains unsatisfactory

The auctions of Coonoor Tea Trade Association for the year 2009 ended in discontent for the producers. Auctions remains unsatisfactory, as around 30 per cent of the six-week high 14.29 lakh kg offered at Sale No: 52 remained unsold despite shedding Rs 3 a kg. Market remains closed for a fortnight for the yearend and the first sale of 2010 will be held on January 7.

35 per cent of leaf and 27 per cent of dust offered remained unsold with continuing the trend of the past more than a month.

Among CTC teas from bought-leaf factories, Homedale Estate, auctioned by Global Tea Brokers, continued to fetch the highest price in both leaf and dust markets. “Our Broken Pekoe (BP) got the highest price of Rs 135 a kg in the leaf market. Our Pekoe Dust (PD) got the highest price of Rs 134 in the dust market. In all, three of our grades got Rs 127 and more,” Mr Prashant Menon, Homedale Managing Partner, said. “Our Darmona grades got the second highest bid of Rs 130 in both leaf and dust markets and five of our grades got Rs 123 and more,” Mr Dinesh Raju, Darmona Managing Partner, said.

Among orthodox teas from the corporate sector, Curzon got Rs 160, Chamraj Rs 143, Corsley Rs 142, Tiger Hill Rs 139, Kairbetta Rs 132, Havukal Rs 128, Coonoor Tea Rs 127, Glendale, Colacumby, Singara and Mailoor Rs 122 each, Quinshola Rs 121 and Sutton Rs 120. In all, 28 grades got Rs 100 and more.