Financial Daily from THE HINDU group of publications
Tuesday, Mar 14, 2006
Financial Daily from THE HINDU group of publications Tuesday, Mar 14, 2006 |
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Agri-Biz & Commodities
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Tea Volumes down at Coonoor sales P.S. Sundar
Coonoor , March 13 Producers who sold their teas through the auctions of the Coonoor Tea trade Association (CTTA) have lost Rs 9.86 crore in the first two months compared to their earnings in the same months of last year. An analysis of the Market Reports reveals that prices rose because of short supplies, but the volume was inadequate to push up the overall earnings. The average price of the teas sold in January and February rose to Rs 47.74 a kg from Rs 44.86 in the same months of 2005. But, only 4.56 million kgs were sold this year against 7.05 million kgs last year. Consequently, the overall earnings dropped to Rs 21.77 crore from Rs 31.63 crore. This marks a sharp fall of Rs 9.86 crore or 31.17 per cent. In the case of orthodox teas, both the volume and the value dropped. The unit price dropped to Rs 54.08 a kg from Rs 55.85. Only with such a reduction, the lower volume of 3.45 lakh kgs could be sold as the demand from the exporters was absent for most part of the months. Last year, 4.93 lakh kgs were sold. In the case of CTC teas, the volume sold fell sharply to 4.2 million kgs from 6.6 million kgs. This helped the prices to rise to Rs 47.22 a kg from Rs 44.03. The overall volume sold dropped because of the reduction in production in the Nilgiris. Prices rose in the second half of February with Pakistan stepping up purchases in the wake of a massive reduction in the supplies from Kenya due to drought.
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