Agri Business

Coonoor tea auction turnover down 7%

PS Sundar Coonoor | Updated on March 20, 2018 Published on March 20, 2018

The enthusiasm seen in the tea market in January did not last long as by the end of February, the turnover turned negative.

Till February end, eight auctions had been conducted at Coonoor Tea Trade Association when, to kindle increased demand, producers sacrificed prices by ₹16.12 a kg. This helped the buyers purchase 0.65 million kg (mkg) more than in February 2017. However, the increase in volume was not adequate to help the turnover rise above February 2017.

The average prices dropped to ₹91.57 a kg from ₹107.69 in February 2017. This helped the purchase to rise to 7.78 mkg from 7.13 mkg.

Consequently, the overall turnover dropped to ₹71.24 crore from ₹76.78 crore. This decrease of ₹5.54 crore marked a decline of 7.22 per cent.

Published on March 20, 2018

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