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Last week’s turnover of Coonoor Tea Trade Association auction, which ended on Friday, has risen by 25.51 per cent over the previous week, reveals an analysis of market reports.
This is the highest gain in a week so far this year. It happened because of a higher volume being sold at increased price.
On an average, every kg fetched Rs 91.81 last week against Rs 90.10 the previous week. This was the highest price fetched in 13 weeks.
The high price was due to increased demand from upcountry buyers arising from, among others, uncertainty in the supplies from Assam following internal unrest there. Helped by increased demand, the off-take rose to 11.30 lakh kg from 9.17 lakh kg the previous week.
Consequently, the turnover increased to Rs 10.38 crore from Rs 8.27 crore the previous week. This was the highest turnover in five weeks.
This also meant that in just one week, the turnover has increased by as much as Rs 2.11 crore or 25.51 per cent. At no other week so far this year, the turnover increased this much over the previous week.
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