The cumulative turnover of Coonoor Tea Trade Association auctions till October of current calendar increased by 30.09 per cent over the corresponding period of last year.
This happened because more volume was sold at higher prices, reveals an analysis of the market reports.
In all, 43 auctions had been conducted in the first ten months of 2012. A total volume of 4.53 crore kg had been sold against 4.38 crore kg last year. Helped by increased demand, the average price rose to Rs 80.12 a kg from Rs 63.70 last year.
Consequently, the overall turnover increased to Rs 362.94 crore (Rs 279 crore). This increase of Rs 83.94 crore marked a growth of 30.09 per cent.
The increased turnover lay spread among growers, factory owners, dealers, buyers, warehouse keepers and workers.