This week, low volume has pulled down the overall earnings at the auctions of Coonoor Tea Trade Association despite buoyant prices, reveals an analysis of the market reports.
The volume sold has been declining in the past few weeks and only 13.39 lakh kg was sold this week – the lowest of the last five weeks.
For that matter, the volume of 14.47 lakh kg offered for sale itself was the lowest of the last eight weeks.
The low volume has been activating the demand-pressure and consequently pushing up the prices.
This week’s average price of Rs 81.17 a kg was the highest of the last five weeks.
Collectively, this week’s turnover totalled Rs 10.87 crore against Rs 12.10 crore last week.
This was the lowest turnover in seven weeks.
This also meant that in just one week, the trade has lost Rs 1.23 crore or 10.17 per cent in turnover.