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In the first four months of current calendar, players at Coonoor Tea Trade Association (CTTA) have lost 4.11 per cent in cumulative turnover over the same period of last year.
This is because despite lowering the prices by ₹2 a kg, there were no takers for nearly two lakh kg to equate the volume sold to last year’s levels.
In all, 18 auctions had been conducted from January to April end. On many weeks, nearly a quarter of the offer had remained unsold and to liquidate such unsold volume, producers lowered their price to an average of ₹77.60 a kg from ₹80.03 in 2014.
Despite this, the demand was slack for both exports and domestic market resulting in the volume sold falling to 1.79 crore kg from 1.81 crore kg last year.
Consequently, the overall turnover dropped to ₹138.90 crore from ₹144.85 crore. This reduction of ₹5.95 crore marked a decline of 4.11 per cent.
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