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The turnover of Coonoor Tea Trade Association has posted an increase of 12.64 per cent this week over last week, reveals a market analysis.
This has happened because more tea was sold at higher price. In all, 8.73 lakh kg was sold in this week's auction against 7.85 lakh kg last week. In effect, about 90 per cent of the total offer this week was sold against about 84 per cent last week. On an average, every kg fetched Rs 78.62 now against Rs 77.56 last week.
Consequently, the overall earnings have risen to Rs 6.86 crore from Rs 6.09 crore. This means that in just one week, the traders have netted Rs 77 lakh more. This marked a growth of 12.64 per cent.
Producers and traders are happy that this has reversed the falling trend in the overall earnings. For third consecutive week last Friday, total earnings had posted a decline. The earnings, which had totalled Rs 7.51 crore on March 30, dropped to Rs 6.24 crore the following week and further to Rs 6.10 crore and Rs 6.09 crore in the next two weeks.
In the leaf grade auctions, volume sold this week increased to 5.97 lakh kg from last week's 5.60 lakh kg despite prices rising to Rs 77.21 a kg from Rs 76.16.
In the dust auctions, however, more volume could be sold only by sacrificing prices. The volume sold rose to 2.76 lakh kg from last week's 2.25 lakh kg with average prices dropping to Rs 80.68 a kg from Rs 81.04.
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