The Hindu Business Line : Electronic tea auctions deadline may not be met

THE deadline for 100 per cent electronic tea auctions is fast approaching but three out of the six auction centres in the country are yet to gear up to meet the deadline.

As per a notification by the Tea Board, the three auction centres located in South India are supposed to have 100 per cent electronic auctions by the end of the March.

The North Indian auction centres were given a month's extra time. Their deadline has been fixed for April 30. However, sources in the auction houses said progress towards 100 per cent electronic auctions has been slow.

The three auction centres in South India are Coonoor, Coimbatore and Kochi. Sources said work on electronic auctioning had already started and some tea was already being sold through the new system.

"The auction centres in Coonoor and Coimbatore are a bit ahead of Kochi. However, as of now, it seems that meeting the March 31 deadline will be extremely difficult," sources said.

The auction centres in North India are located at Kolkata, Siliguri and Guwahati.

The tea industry, however, is hopeful that all the centres will meet the deadline. Mr C.K. Dhanuka, President of Indian Tea Association, said changeover work was going on in all the three auction centres in North India.

When asked whether these centres would succeed in meeting the deadline, he said: "I am hopeful". However, Kolkata auction sources say nothing much has progressed.

"It does not appear that this centre will be able to meet the April 30 deadline," one buyer said.

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