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The cumulative turnover of Coonoor Tea Trade Association auctions in the first seven months has risen by Rs 85.75 crore over last year but there was a marginal fall compared to the increase of Rs 88.02 crore recorded till June-end.
The increase in cumulative turnover had risen from Rs 25.28 crore in January to Rs 46.01 crore in February, Rs 57.93 crore in March, Rs 65.20 crore in April, Rs 79.87 crore in May and Rs 88.02 crore in June before registering Rs 85.75 crore.
This has happened because some 28 lakh kg more volume had been sold with average prices increasing by Rs 20 a kg, reveals an analysis of market reports.
In all, 30 auctions had been held till July-end when 3.43 crore kg had been sold against 3.15 crore kg in 2012.
Export purchase showed improvements while upcountry buyers demanded top liquoring tea resulting in average price increasing to Rs 96.10 a kg from Rs 77.42 last year.
In fact, the average price had fallen from Rs 97.83 registered till June-end (till June-end last year: Rs 77.41).
Consequently, between January and July, the cumulative turnover increased to Rs 329.62 crore from Rs 243.87 crore – up by Rs 85.75 crore or 35.16 per cent.
The increased turnover lay spread among factory owners, growers, traders, workers, auctioneers and warehouse keepers.
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