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The cumulative turnover at the auction of Coonoor Tea Trade Association in the first seven months has fallen by 23.26 per cent over the same period last year.
This happened because the volume sold came down by 17 lakh kg despite every kg fetching ₹18 less compared to last year, reveals our analysis. Till July end, 30 auctions had been conducted when 3.26 crore kg was sold against 3.43 crore kg last year. On an average, every kg fetched ₹77.59 against ₹96.10 last year.
Overall, the turnover crashed to ₹252.94 crore from ₹329.62 crore, marking a decline of ₹76.68 crore (23.26 per cent) compared to the same period of 2013.
At this rate, the overall earnings in 2014 will be down by a quarter of 2013, auction sources apprehend.
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