Financial Daily from THE HINDU group of publications Thursday, Mar 16, 2006 |
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Agri-Biz & Commodities
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Tea Coonoor tea auctions cancelled P.S. Sundar
Coonoor , March 15 The Coonoor Tea Trade Association (CTTA) has announced that there would be no auctions this week on account of the on-going strike by the lorry drivers, engaged in the movement of teas from the warehouses to the various destinations in the country. The Managing Committee of the CTTA has decided to postpone the auctions indefinitely until the lorry movement resumes . A high volume of 10.07 lakh kg had been catalogued for the auctions scheduled for Thursday and Friday. This is the second largest volume for the year so far, the highest being 10.42 lakh kg offered on January 12. For this week, of the 10.07 lakh kg, as much as 7.62 lakh kg belonged to the leaf category and the balance 2.45 lakh kg belonged to the dust category. Again, as much as 9.44 lakh kg belonged to the CTC variety and the balance of only 0.39 lakh kg belonged to the orthodox variety.
Drivers' offer
With the lorry strike entering the eighth day on Wednesday nearly 2 million kg of the teas are remaining with the warehouses. The Coonoor Lorry Drivers' Association has told the Tea Board that the drivers had no objection to moving the teas if the Board would arrange for the movement without the interference of the transport contractors. But, there is a dispute between the Coonoor Lorry Owners Association and the Road Transporters' Association as to who should pay this charge. Buyers contend that the teas they have bought are not moving out of the warehouses because of the strike and in this context, it would be impossible for them to continue with their purchases.
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