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For the first time in 2015, the cumulative turnover at the auctions of Coonoor Tea Trade Association has risen over the corresponding period of 2014.
Till April end, the cumulative turnover had fallen by ₹5.95 crore or 4.11 per cent.
This trend was reversed in May, reveals an analysis of market reports.
In all, 22 auctions had been conducted from January to May end.
On many weeks, nearly a quarter of the offer had remained unsold.
To liquidate such unsold volume, producers lowered their price to an average of ₹75.26 a kg from ₹80.14 in 2014.
This helped increased absorption and the volume sold rose to 2.33 crore kg from 2.16 crore kg last year.
Consequently, the overall turnover increased to ₹175.36 crore from ₹173.10 crore.
This increase of ₹2.26 crore marked a marginal growth of 1.31 per cent.
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