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The cumulative turnover at the auctions of Coonoor Tea Trade Association (CTTA) in the first eight months of current calendar has crashed by as much as 22.10 per cent over the same period of 2013, reveals an analysis.
This happened because the volume sold was less by nine lakh kg over January-August 2013 despite shedding, on an average, ₹20 a kg due to inadequate export and domestic demand.
In all, 35 auctions had taken place till August when 3.90 crore kg was sold against 3.99 crore kg last year.
On an average, every kg fetched ₹75.39 now against ₹94.59 last year. Consequently, the overall cumulative turnover dropped to ₹294.02 crore from ₹377.41 crore.
This reduction of ₹83.39 crore marked a decline of 22.10 per cent.
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