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Buoyancy prevailed at the pre-Diwali auctions of Coonoor Tea Trade Association which ended on Friday with the turnover soaring to nine-week high.
This happened with Diwali festival demand chasing the eight-week low offer of 12.20 lakh kg resulting in prices to rise, on an average, by Rs 3.55 a kg.
Following increased demand, a little more than 96 per cent of the offer was sold. This was the highest sale percentage so far this year.
In effect, 11.47 lakh kg was sold against 11.35 lakh kg last week. This was the highest volume sold in nine weeks.
Helped by Diwali demand, the prices rose to an average of Rs 87.75 a kg from Rs 84.20. This was the highest price in seven weeks.
Consequently, the turnover rose to Rs 10.06 crore from Rs 9.56 crore.
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