Financial Daily from THE HINDU group of publications
Thursday, Feb 17, 2005
Financial Daily from THE HINDU group of publications Thursday, Feb 17, 2005 |
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Agri-Biz & Commodities
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Tea Electronic auctions failing to serve purpose: CTTA P.S. Sundar
Coonoor , Feb. 16 IN their market report of the auctions conducted by the Coonoor Tea Trade Association (CTTA), the Joint Brokers have said the electronic auctions have failed to serve the purpose. "At best, the electronic auctions can be described as almost total failure," noted the report for the latest auctions. Ever since the launching of the electronic auctions on November 4 last, the sales have witnessed poor participation and lower bid, leading to heavy withdrawals of the teas. This is significant in the context of the Tea Board giving mandate for the conducting of the entire auctions under the electronic system by next month.
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