The Hindu Business Line : Coonoor tea auction turnover up 4.37 per cent

THE turnover at the Coonoor Tea Trade Association (CTTA) auctions in the first seven months of this year was 4.37 per cent higher compared with the same period last year.

Market analysis attributes the rise in volume sold even as the price earned fell marginally.

Between January and July, 2.46 crore kg tea was sold against 2.31 crore kg sold last year. But the price dipped to Rs 38.30 a kg from Rs 39.08.

Consequently, the turnover rose to Rs 94.22 crore from Rs 90.27 crore.

The price average was marginally more thanks to support from the orthodox teas. On an average, every kg of orthodox tea sold in this period fetched Rs 3.65 more than last year to reach Rs 50.68. On the contrary, CTC teas lost Rs 1.04 to dip to Rs 37.32.

In other words, every kg of orthodox tea fetched Rs 13.36 more than the CTC teas. Last year, this gap was only Rs 8.67.

One reason for the increase in price of orthodox teas over CTC teas is the drop in supply. This year, only 1.8 million kg of orthodox teas were sold against 1.91 million kg last year.

Moreover, there was a general shortage of orthodox teas at the auctions as they were needed for exports. Of the 2.46 crore kg sold, CTC teas constituted as much as 2.28 crore kg.

That meant, only 7 per cent of the sales belonged to orthodox variety against 9 per cent last year.

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