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The cumulative turnover of Coonoor Tea Trade Association (CTTA) auctions in the first two months of calendar 2017 have increased by 15.13 per cent over the same period in 2016.
This has happened because 5.17 lakh kg more tea sold even as the average price rose by ₹6.72 a kg, thanks to increased demand from upcountry buyers and higher quality of winter teas, reveals our analysis of the market reports.
In the first two months of this year, eight auctions were conducted, and the average price rose to ₹107.69 a kg from ₹100.97 following increased demand for better quality teas.
As the availability of teas from the North East was limited due to winter closure of factories, buyers picked up more teas, resulting in the volume sold rising to 71.31 lakh kg from 66.14 lakh kg.
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