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The rising trend witnessed in auctions of the Coonoor Tea Trade Association (CTTA) in recent weeks continued this week. At Sale No: 33 , the average price rose to ₹87.96 a kg — the highest in 16 weeks.
It was as much as ₹20 more a kg, compared to the average price this time last year. It was ₹1.18 more than the average recorded in the previous sale held last week.
“The increased demand from packeteers and exporters has been pushing up prices in recent weeks but now we are witnessing higher demand from upcountry domestic traders as well. This follows the shortage in the country’s production so far as also predictions of the output remaining less than last year. We anticipate the overall high demand to sustain in coming weeks, which will help prices rise further,” CTTA Chairman Nishant Vakharia told BusinessLine .
However, the higher price marginally reduced the intake by traders. A volume of 13.52 lakh kg was bought against 13.60 lakh kg in the previous week.
Nevertheless, the higher price helped the overall realisation rise marginally.
Turnover rose to ₹11.84 crore this week from ₹11.80 crore last week. This was the highest turnover of the last three weeks.
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