The Hindu Business Line : Technical snags continue to haunt tea e-auctions

ALMOST a year has gone by since bringing tea under the electronic auction process, but the teething problem is far from over. It continues to haunt the trade.

The trade, while reiterating that it welcomes the automated auction process, have expressed concern about the recurring blocks restricting their move.

If the falling rates and slow system response troubled the sellers during the last couple of weeks, they are now upset about the system not registering the auto bids and in being unable to knock down sold lots.

Trade sources say that the prices had firmed up by Rs 3-5 a kg in the last two weeks and the offered quantities had also dipped.

"We cannot afford to wait during such periods to offload our offering," a broker told Business Line.

Brokers, while recalling the problems encountered at the sale no 29 at Coonoor, said they were unable to knock down sold lots in a few pages when acceptable bids were received and recorded in the system.

"We had to therefore announce the sold lots," the source said.

The issue was brought to the notice of the Tea Board and the vendor.

"When the operation was resumed a few minutes later, we noticed that those who had put auto bids did not get their bids registered," the source said.

Trade sources have sought immediate intervention of the Board for resolving such issues.

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