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P.S. Sundar

Coonoor , Jan. 2

PRICES at the auctions conducted by the Coonoor Tea Trade Association (CTTA) rose to a five-year high in 2004.

With all the auctions for the year having ended, an analysis of the price trend indicates that the average price obtained in 2004 was Rs 43.30 a kg against Rs 34.55 in 2003. This was the highest price since 1999 when the prices averaged Rs 53.34.

The prices fell sharply in 2000 to Rs 39 and rose to Rs 41.46 the next year before falling to Rs 36.78 in 2002. They further fell to Rs 34.55 the next year.

In 2004, the CTTA auctioned 4.43 crore kg of teas against 4.06 crore kg in 2003. Arising from the increased volume traded and the higher price fetched, the turnover in 2004 rose 37 per cent to touch Rs 192 crore from Rs 140 crore in 2003.

But, turnover-wise, 2004 was lower than most years in the decade because of the lower volume sold.

A principal reason for the fall in volume at CTTA auctions was the emergence of the Teaserve e-auctions last year to which, the whole of the teas produced by the Indco factories (barring any private sale) was diverted. Teas from Tantea and some other organisations were also diverted to Teaserve.

In 2004, the CTTA sold 3.4 million kg of orthodox teas against 2.53 million kg in the previous year. The prices earned averaged Rs 50.89 a kg, while they were Rs 41.11 the previous year.

The CTC teas sold totalled 40.8 million kg in 2004 against 38 million kg in 2003. Their prices rose to Rs 42.65 a kg from Rs 34.11. In effect, Rs 174 crore worth of CTC teas were sold in 2004 - some 34 per cent more than 2003.

The producers expect the rising trend to continue when the first sale for the New Year opens on January 6. A volume of 12 lakh kg comprising 10 lakh kg of leaf and three lakh kg of dusts has been catalogued for the auctions.

The newly introduced e-auctions will continue for the experimental five lots.

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