The Hindu Business Line : Coonoor tea sale turnover increases 98%

Coonoor, Nov 13 Producers who sold their teas through the 44 auctions of the Coonoor Tea Trade Association (CTTA) held in the 10 months of the current calendar year have earned Rs 134.03 crore more than in the same period of 2007.

An analysis of the market reports shows this happened because of higher volume sold at increased price.

Between January and October, producers sold 4.28 crore kg through CTTA auctions against 3.13 crore kg last year. On an average, every kilo fetched Rs 20 more to rule at Rs 63.32.

Consequently, the overall turnover increased to Rs 271 crore from Rs 136.97 crore. This marked an increase of Rs 134.03 crore or 97.85 per cent.

Market revival

This extra sum remained distributed among the tea manufacturers, growers, auctioneers, traders, warehouse keepers and labour. More volume was sold at a higher price because of revival in the market caused by increased consumption.

Prices rose for both the CTC and orthodox teas despite the volume sold increasing significantly. In the case of CTC teas, which occupied the bulk of the sales, prices rose to an average of Rs 63.04 a kg from Rs 42.80. The volume sold increased to 3.99 crore kg from 2.88 crore kg.

Orthodox tea prices rose to an average of Rs 67.21 a kg from Rs 54.94. The volume sold increased to 2.9 million kg from 2.5 million kg.

Producers contend that 2007 was exceptionally poor year for tea and hence, an empirical comparison over it would be misleading. Besides, the cost of production has risen significantly in both the field and factory, they contend.

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