The cumulative turnover at Coonoor Tea Trade Association (CTTA) auctions in the first three-quarters of 2015 has fallen below the corresponding level of last year, reveals an analysis of the market reports.

Till April, players at CTTA auction had earned less compared to 2014 but in May and June, they earned more. However, the earnings dropped again in July and August.

This falling trend continued last month. Although the volume sold till September had risen over last year by 16 lakh kg that was possible only by sacrificing prices by ₹4 a kg.

Till September end, 39 auctions had been held. Since about 25 per cent of volume had remained unsold in most auctions, producers reduced their asking price resulting in average price falling to ₹71.13 a kg from ₹75.10.

The lower price helped higher absorption with the volume sold rising to 4.50 crore kg from 4.34 crore kg.

Nevertheless, the overall turnover dropped to ₹320.09 crore from ₹325.93 crore.

This fall of ₹5.84 crore marked a decline of 1.79 per cent.

There has been an improvement in the absorption level in October. Still, some tea grades are available at CTTA auction for as low as ₹40 a kg.

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