The cumulative turnover in the Coonoor Tea Trade Association (CTTA) auctions, till November, has increased by 8.13 per cent over January-November 2017 period.
This is due to increased demand from both the upcountry buyers and the exporters resulting in higher absorption of tea despite a rise in price.
Although the price fetched rose by ₹5.15 a kg over the January-November 2017 period, the volume sold rose by 11 lakh kg.
With more volume sold at higher rates, the overall earnings increased to ₹525.17 crore from ₹485.70 crore.
With only three more auctions, traders expect the overall earnings in 2018 to be around ₹548 crore, as against the ₹517 crore fetched in 2017.
Published on December 14, 2018
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