Financial Daily from THE HINDU group of publications
Friday, May 12, 2006
Financial Daily from THE HINDU group of publications Friday, May 12, 2006 |
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Agri-Biz & Commodities
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Tea Coonoor tea sale value down P.S. Sundar
Coonoor , May 11 The value of teas sold through the auctions of the Coonoor Tea Trade Association (CTTA) in the first four months of the calendar year has declined by Rs 6.8 crore over the corresponding previous period. Till April-end, 17 sales were conducted in the weekly auctions. An analysis of the market records shows that the value earned dropped despite an increase in the unit price because the volumes sold was lower. In the four months, the prices rose to an average of Rs 46.99 a kg from Rs 44.55 last year. But the higher price was a result of the lower volumes pressuring the demand factor. In the four months, the volumes sold dropped to 9.95 million kg from 11.98 million kg last year. Consequently, the overall earnings fell to Rs 46.76 crore (Rs 53.56 crore). This showed a drop of Rs 6.8 crore or 12.7 per cent. But April was a better month compared to the first quarter. Till March-end, the earnings were down by Rs 9.66 crore or 23.36 per cent. In April, the earnings rose by Rs 15.07 crore.
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