Agri Business

Coonoor tea auction turnover up 8.53%

P. S. Sundar Coonoor | Updated on September 07, 2011

Online tea trading

The turnover of Coonoor Tea Trade Association auctions in the first eight months of calendar 2011 has gained 8.53 per cent, reveals an analysis of the Market Reports.

This has happened because of higher volume being sold at higher average price.

Between January and August, 34 auctions had been held. In all, 3.43 crore kg had been sold against 3.35 crore kg in the same months of 2010. Helped by increased export demand, prices rose to an average of Rs 63.26 a kg from Rs 59.68.

Consequently, the overall turnover increased to Rs 236.98 crore from Rs 199.93 crore. This increase of Rs 17.05 crore marked a growth of 8.53 per cent.

Till May end, the turnover was Rs 2.30 crore less than last year, despite an increase in price, because of lower volume sold. For the first time this year, in June, both the volume sold and the prices fetched increased resulting in cumulative gain of Rs 8.26 crore in the first half over H1 of 2010.

In January-end, turnover was 2.33 per cent less than January 2010. By February-end, the shortfall had increased to 3.92 per cent, to 4.68 per cent by March-end and 5.23 per cent by April-end before falling to 1.87 per cent by May end. Only by June end, the turnover rose last year by 5.67 per cent and by July-end, 7.62 per cent. Now, it has further risen to 8.53 per cent by August-end.

Published on September 05, 2011

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