![]() Financial Daily from THE HINDU group of publications Friday, Mar 11, 2005 |
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Agri-Biz & Commodities
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Tea Coonoor tea trade complains of tech snags in e-auctions P.S. Sundar
Coonoor , March 10 THE Tea Board Chairman, Mr N.K. Das, is expected to give details of the Board's efforts to ensure smooth conduct of e-auctions on Saturday when he will inaugurate the speciality tea auction at the Coonoor Tea Trade Association. Although the Board has given a mandate to the tea trade associations in the South to conduct all auctions through the electronic system from this month, the players at the auction centres have been complaining of frequent system failure, causing disturbances in sales after commencement of the auction. For instance, last week, in the Tea Community Centre technical faults developed and four auctioneers out of the eight had to sell their teas manually. This created inequality in the sale process, as some brokers who sold through the e-auctions complained that they got a lower price than those who sold manually. "If all sell through one process, we would not complain about lower bids. Here, those who are able to push through the bids in the manual system win, while those who sit watching the monitors lose," an auctioneer told Business Line.
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