The Hindu Business Line : Turnover up a tad at Coonoor tea sales

Coonoor April 30 The turnover at the auctions of the Coonoor Tea Trade Association (CTTA) has posted an increase of two per cent in the first quarter of 2007 over the same period of last calendar.

An analysis of the market reports reveals that between January and March, the volume sold was lower, but the price fetched was higher.

The aggregate volume of all the 13 auctions held in the first quarter was 7.17 million kgs against 7.34 in the same period of 2006. But the lower supplies helped the prices to rise. Prices averaged Rs 49.21 a kg against Rs 47.08 last year.

Consequently, the overall turnover rose to Rs 35.28 crore (Rs 34.56 crore), a rise of 2.08 per cent. The turnover increased in respect of both the orthodox and CTC teas. In the case of orthodox teas, while the volume continued to be far lower than the CTC levels, there was an increase over 2006. In all, 6.49 lakh kgs were sold against 5.76 lakh kgs last year.

Interestingly, the higher volume was bought at higher prices. Prices averaged Rs 61.13 a kg against Rs 54.35. Consequently, the value of the orthodox teas sold rose to Rs 3.97 crore from Rs 3.13 crore. The value of the CTC teas was far higher. The average price increased to Rs 48.02 a kg from Rs 46.46 last year.

But, this reduced the intake by the traders. Hence, the volume sold dropped to 6.52 million kgs (6.76 million kgs). Consequently, the value of the CTC teas sold through the auctions rose to Rs 31.3 crore from Rs 31.43 crore.

At present, the lower end of the market rules in the range of Rs 39 to 41 a kg. The year began with the prices averaging Rs 48.13 a kg - some Rs 4 kg more than last year. They peaked to Rs 51.36 a kg by March beginning, but were marginally lower than the average of Rs 51.61 in the corresponding sale of last year.

Now, they are averaging Rs 47.70 a kg - some Rs 1.25 more than last year.

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