Comments
Buoyancy continued in the post-Diwali auction which ended on Friday with the turnover rising to 16-week high.
In addition to the increased demand for Diwali festival season, the market faced pressure from upcountry buyers for brighter liquoring teas as they preferred not to invest in Assam teas because of the prevailing unrest in that State.
Due to this increased demand, prices rose to an average of Rs 89.27 a kg from Rs 87.75 last week. This was the highest price in nine weeks. Because of the demand, as much as 96.5 per cent of the offer of 13.08 lakh kg was sold. This was the highest sale percentage so far this year.
In effect, 12.50 lakh kg was sold against 11.47 lakh kg last week. This was the highest volume sold in 15 weeks. Consequently, the turnover rose to Rs 11.06 crore from Rs 10.06 crore. This marked an increase of as much as Rs 1.10 crore or 10.93 per cent in one week, reveals an analysis of the market reports.
This was the highest turnover in 16 weeks.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.