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The cumulative turnover in the 10 months of current calendar for Coonoor Tea Trade Association (CTTA) auctions has posted a gain of 14.40 per cent over the same period of 2015. This happened despite the volume sold falling by 76 lakh kg because of the sharp increase of about ₹25 a kg in the average price, reveals an analysis of market reports. Till October, 42 auctions had been conducted at CTTA when the average price rose to ₹96.52 a kg from ₹71.18 in the same months of 2015. This sharp rise in price caused some resentment in purchase resulting in the volume sold falling to 4.10 crore kg from 4.86 crore kg. Nevertheless, the higher price offset the loss in volume sold and helped the overall earnings to rise to ₹395.73 crore from ₹345.93 crore in January-October 2105. This increase of ₹49.80 crore marked a growth of 14.40 per cent.
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