The Hindu Business Line : Tea auction goes online in Coimbatore

There was all-round excitement, with the buyers trying to familiarise themselves with the new system of trading. The festive look in an otherwise grim auction floor was unmistakable.

According to trade sources, 10 lots from the total weekly offering would be taken up for auction on the electronic platform, until the buyers acclimatise themselves with the shift.

Talking about the tea industry's IT project, Mr N.K. Das, Chairman, Tea Board, said the electronic auction platform for tea was in line with the recommendations contained in the Ferguson study on primary marketing of tea in India. This system, according to the Tea Board Chairman would ensure greater transparency in the bidding process and a fair price discovery for this commodity. Besides ensuring administrative and transaction cost, this would be an efficient management tool as information on traded volumes and prices would be available online. Eventually, this could lead to a common integrated virtual market for Indian tea.

The Union Government, he said, would bear the maintenance charges for the first two years. Thereafter, the system would have to generate income through user charges, subscription and other revenue streams, to meet the recurring expenses from within. The modalities were being worked out, Mr Das said.

While the data centre for hosting the eAuction application software was positioned at Delhi, the day-to-day updation of the tea portal would be from the Tea Board's head office in Kolkata.

The next mega event is slated for June 14, with the Guwahati auction centre going online. The Board envisages interlinking all the six - Coimbatore, Guwahati, Kolkata, Siliguri, Kochi and Coonoor - functional auction centres in the country before the close of this year.

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