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The cumulative turnover of Coonoor Tea Trade Association auctions in the first half of the current calendar has risen by 45.67 per cent over the previous year period, reveals an analysis of market reports.
This is owing to an additional volume of some 38 lakh kg being sold at a higher price of Rs 20 a kg on an average.
In all, 26 auctions have been held till June-end with 2.87 crore kg being sold, against 2.49 crore kg in 2012.
Export buying was less with Pakistan refraining from purchases due to border tensions. However, upcountry buyers demanded top liquoring tea due to winter closure of plantations in the North. This resulted in the average price increasing to Rs 97.83 a kg from Rs 77.41 last year.
Consequently, between January and June, the cumulative turnover increased to Rs 280.77 crore from Rs 192.75 crore, up by Rs 88.02 crore or 45.67 per cent.
The cumulative turnover has increased in all the months so far – from Rs 25.28 crore (85.12 per cent) in January to Rs 46.01 crore (82.96 per cent) in February, Rs 57.93 crore (66.64 per cent) in March, Rs 65.20 crore (57.69 per cent) in April and Rs 79.87 crore (53.39 per cent) in May before peaking to Rs 88.02 crore (45.67 per cent) in June.
The increased turnover lay spread among factory owners, growers, traders, workers, auctioneers and warehouse keepers.
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