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Amid speculation of higher crop, tea prices dropped by almost Rs 4 a kg from last week at the Coonoor Tea Trade Association's auctions which ended on Friday. As volumes increased due to the price fall, , producers and traders earned 10.84 per cent more than in the previous week.
Prices dropped to an average of Rs 88.44 a kg from Rs 92.21 last week. Volumes rose to 11.10 lakh kg from 9.61 lakh kg.
The overall turnover, which increased to Rs 9.82 crore from Rs 8.86 crore, is the highest here in several weeks. The average price of leaf grades dropped to Rs 88.77 a kg from Rs 92.34, while dust grades fell to Rs 87.61 from Rs 91.87.
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