Business Daily from THE HINDU group of publications
Friday, Feb 23, 2007
ePaper
Business Daily from THE HINDU group of publications Friday, Feb 23, 2007 ePaper |
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Agri-Biz & Commodities
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Tea Industry & Economy - Taxation Coonoor tea auctions called off on VAT issue P.S. Sundar
While some produces insisted that the new method of VAT be followed forthwith, the buyers said that they needed more time to study the issue. Brokers also felt that more time was needed to make changes in the software to adapt to the VAT pattern of raising the contracts. As no consensus was reached, the auctions are unlikely to take place tomorrow as well.
2nd lowest volume
This is the eighth sale for the year and the catalogue bears a volume of 8.06 lakh kg. This is the second lowest volume so far for 2007, the lowest being 7.77 lakh kg offered on February 1. It is some 16,000 kg lower than the offer of last week. It is, however, some 63,000 kg more than the offer in the corresponding sale of last year. Of the 8.06 lakh kg now offered, as much as 7.51 lakh kg belong to the CTC category and only 0.55 lakh kg, orthodox. Again, as much as 5.87 lakh kg belong to the leaf grades and only 2.19 lakh kg dust grades. The proportion of orthodox continues to be low in both the leaf and dust categories.
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