The cumulative turnover of Coonoor Tea Trade Association auctions till August has increased by 30.44 per cent over the corresponding period of last year.
This has happened because more volume was sold at a higher price, reveals an analysis of the market reports.
In all, 35 auctions had been conducted in the first eight months of 2012. A total volume of 3.72 crore kg had been sold against 3.55 crore kg last year. Helped by increased demand, the average price rose to Rs 78.61 (Rs 63.15) a kg.
Consequently, the overall turnover increased to Rs 292.43 crore from Rs 224.18 crore. This increase of Rs 68.25 crore marked a growth of 30.44 per cent.
The increased turnover lay spread among growers, factory owners, dealers, buyers, warehouse keepers and workers.
There has been a consistent increase in cumulative turnover in all the months so far this year.
The increase in cumulative turnover, which was Rs 67 lakh (2.39 per cent) in January over the same month of 2011, rose to Rs 4.70 crore (9.26 per cent) in February, Rs 10.31 crore (13.46 per cent) in March, Rs 15.54 crore (15.94 per cent) in April, Rs 20.15 crore (16.66 per cent) in May, Rs 31.09 crore (19.23 per cent) in June and Rs 52.82 crore (27.65 per cent) in July before peaking to Rs 68.25 crore (30.44 per cent) in August.