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The cumulative turnover at the auctions of Coonoor Tea Trade Association (CTTA) has fallen by 20.83 per cent till September over last calendar, reveals our analysis of the market reports. With only the last quarter remaining, the chances of making good the loss in current calendar are remote.
Till September, 39 auctions had been conducted when a volume of 4.34 crore kg was sold against 4.38 crore kg in the same months of 2013. On an average, every kg fetched ₹75.10 against ₹93.99.
Consequently, the cumulative turnover in the nine months crashed to ₹325.93 crore from ₹411.67 crore in the corresponding period last year.
This fall of ₹85.74 crore marked a decline of 20.83 per cent. Export situation has worsened because India’s supply situation is causing concern with a shortfall in production. “Till now, India has lost 10.87 million kg (mkg) over last year while other major producers have gained in volume – Kenya 4.54 mkg, Malawi 4.42 mkg” Rajesh Gupta, publisher of annual Global Tea Digest, told BusinessLine .
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