The turnover of Coonoor Tea Trade Association auction last week has fallen by as much as 20.34 per cent over previous week, reveals an analysis of market reports.

This happened because the volume sold was less despite sacrificing prices. Both the export and domestic demand was inadequate to absorb tea even at reduced prices.

On an average, every kg lost Rs 3 to rule Rs 89.08 this week. This was the first time in 10 weeks when price had fallen over the previous week.

Buyers contended that there is an increased availability of high quality tea at lower price in North Indian auctions. With peace situation prevailing in Assam, buyers are picking Assam teas. With disadvantageous dollar equivalent, exporters have been less active. In effect, only 8.31 lakh kg was sold against 10.11 lakh kg last week.

Consequently, the turnover fell to Rs 7.40 crore from Rs 9.29 crore last week.

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