Comments
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.