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The Coonoor Tea Trade Association (CTTA) auction turnover has risen by 82.96 per cent in the first two months of this calendar over last year, says an analysis of market reports.
In January and February, eight auctions had been conducted when 1.03 crore kg was sold against 0.79 crore kg in 2012. On an average, each kg fetched Rs 98.51 (Rs 70.20 last year).
Consequently, the turnover rose to Rs 101.47 crore from Rs 55.46 crore. This marked an increase of Rs 46.01 crore or a whopping 82.96 per cent in just two months.
The average price which was Rs 99.95 a kg in the first sale in March crossed the Rs 100-a-kg mark for the first time in the 50 year history of CTTA auctions and rose to Rs 104.11 in the second sale before peaking to Rs 106.49 in the third sale.
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