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The turnover at the auctions of Coonoor Tea Trade Association has fallen by 1.87 per cent in the first five months of current calendar over the same period of last year, reveals an analysis of market reports.
This has happened despite teas fetching higher prices because less volume was sold. The demand was inadequate to absorb the teas at higher prices. When the asking price was more, only lower volume could be sold.
In all, 21 auctions had been conducted between January and May. The average price increased to Rs 67.98 a kg from Rs 65.24 last year. But, this pulled down the volume sold to 1.78 crore kg from 1.89 crore kg in 2010. Consequently, the turnover dropped to Rs 121 crore from Rs 123.30 crore.
This decline of Rs 2.30 crore marked a fall of 1.87 per cent. This decline is the least compared to all other months of this year so far. In January-end, turnover was 2.33 per cent less than January 2010.
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