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The turnover of the auctions of Coonoor Tea Trade Association (CTTA) in January has increased by 6.07 per cent over January 2011, reveals an analysis of the market reports.
The increase had come about despite a reduction in prices because of higher volume having been sold. Almost all sections of traders such as growers, factory owners, dealers, buyers, warehouse keepers and workers have all contributed to the increase.
In all, four auctions had been conducted in January where a total volume of 4.32 crore kg was sold against 3.93 crore kg in January 2011. More volume could be sold because of lowering prices to average Rs 68.74 a kg against Rs 71.34 a kg in January 2011.
Consequently, the overall turnover increased to Rs 2.97 crore from Rs 2.80 crore. This increase of Rs 17 lakh marked a growth of 6.07 per cent.
Of this, orthodox tea's sale volume dropped to about 3 lakh kg from 3.24 lakh kg in January 2011 with prices averaging to Rs 77.02 a kg against Rs 78.32 January last year. The volume of CTC tea sold rose to 4.02 crore kg from 3.60 crore kg but the average price dropped to Rs 68.13 a kg from Rs 70.72.
The encouraging beginning for 2012 had come about after the trade registering 9.31 per cent growth in 2011 over 2010. The turnover had risen by Rs 28.46 crore to reach Rs 334.01 crore in 2011.
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