The rising trend witnessed in the prices of the auctions of Coonoor Tea Trade Association in the recent weeks continued at Sale No: 35 which concluded on Friday.
The average price rose to ₹95.37 a kg. This was the highest of the last 19 weeks. This was some ₹3 more per kg over last week.
Despite this, nearly 88.66 per cent of the offer was sold due to increased demand from domestic traders and exporters.
Traders said that they were buying more tea from Coonoor auctions to bridge the shortfall in supplies from Kerala due to the floods.
In all, a volume of 12.05 lakh kg was sold against 12.76 lakh last week.
This pulled down the overall earnings to ₹11.49 crore from last week’s ₹11.83 crore.
This marked a fall of 2.79 per cent in the earnings in one week.
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