Financial Daily from THE HINDU group of publications
Thursday, Nov 04, 2004
Financial Daily from THE HINDU group of publications Thursday, Nov 04, 2004 |
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Agri-Biz & Commodities
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Tea Coonoor e-auctions to be launched today P.S. Sundar
Coonoor , Nov. 3 THE electronic tea auctions will be inaugurated at the Coonoor Tea Trade Association (CTTA) on Thursday. Mr Vikram Kapur, Executive Director of Tea Board, will launch the e-auctions. This is part of the Tea Board decision to covert all tea auction centres in the country to electronic auctioning. In the South, e-auctions have already commenced in Coimbatore and Kochi. "To begin with, each broker will sell only five lots by e-auctions. More volumes will be sold in due course," an official told Business Line. Contemporary Tea Auctioneers will do the opening sale. They will first knock off the teas from Vigneshwar Premium. The first contract will be electronically generated on the platform and handed over to the buyer by Mr Kapur. The other brokers operating at the CTTA auctions are J. Thomas & Co, Imperial Tea, Paramount Tea Marketing, Global Tea Brokers, Best Tea Brokers, Forbes & Co (Tea Brokers) and Carritt Moran & Co. The contract by these brokers would be processed at their respective auctions. The electronic auctions will go on till noon. After lunch, the usual outcry auctions will be held for the remaining teas.
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