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The tea auction centre in Coimbatore, for the first time saw participation of new buyers in the auction that took place today.
“Thanks to the pan-India e-auction platform; participation of new buyers is now possible. It has created history,” said trade sources hailing the new platform.
The Coimbatore centre was linked to the pan-India e-auction platform only today.
At the sale number 25, the total quantity of tea dust on offer (excluding sample) stood at 2.38 lakh kg. Trade sources said that over 80 per cent of the teas were sold and the average price marginally better than the previous week’s sale.
The average price this week touched a high of ₹102.35/kg.
“The offered volume was much higher at 3.70 lakh kg during the same sale (no 25) in 2015, and the price stood at ₹74.60. The pan-India auction has helped fetch better rate,” the source observed.
In the leaf category, the volumes registered a sharp dip compared to the year-ago quantity of 1.71 lakh kg to 1.27 lakh kg.
The sellers were able to get an average price of ₹96.19 this week, a tad lower than the previous week’s sale price of ₹98.08 a kg, but far higher than the year-ago realisation of ₹66.37 a kg.
The trade fraternity said they faced no glitches today.
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