The Hindu Business Line : Kochi tea auctions post highest price increase

Coonoor, Nov. 26 Producers who sold their teas through the four auction centres in the South in the first nine months earned Rs 4.72 crore less compared to the corresponding period of last year.

An analysis of the information available with the Tea Board indicates that the earnings dropped because of a fall in both volume and price.

Between January and September, a volume of 100.28 million kg (mkg) was sold against 100.36 mkg last year. The average price fetched was Rs 50.18 a kg against Rs 50.61 last year.

Consequently, the overall earnings dropped to Rs 503.20 crore from Rs 507.92 crore.

Auctions centres in the South posted the highest increase and decrease in price among all the eight centres in the country.

Rs 31.4 a kg more

Kochi posted the highest-increase in price. Every kg sold through the Centre, on an average, fetched Rs 3.14 more than last year to rule Rs 56.71. This was the highest price among all the four auction centres in the South. But, the price increase could be achieved with a lower volume — the volume sold dropped to 42.9 mkg from 45.1 mkg.

Coimbatore auction centre received an average price of Rs 47.41 — Rs 1.89 lower than last year. By dropping the price, more volume could be sold — 20.8 mkg from 16.8 mkg.

In Coonoor auction centre, both the volume and value dropped. The price declined by Rs 3.46 a kg to average Rs 44.59. This is despite the volume sold dropping to 26.7 million kgs from 28.1 million kgs.

Teaserve auctions held in Coonoor continued to post the lowest price average of all the eight auction centres. The average price dropped to Rs 42.74 a kg.