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The cumulative turnover of Coonoor Tea Trade Association auctions has risen by 53.39 per cent till May compared to last year, reveals an analysis of the market reports.
This has happened because some 33 lakh kg more volume had been sold with average prices increasing by as much as Rs 24 a kg. In all, 22 auctions had been held till May-end when 2.31 crore kg had been sold against 1.98 crore kg in 2012.
Export purchase was less with Pakistan refraining from buying during most months. However, internal demand was high because of low supplies in the North due to winter closure of plantations. This led to average prices increasing to Rs 99.34 a kg from Rs 75.56 last year.
Consequently, between January and May, the cumulative turnover increased to Rs 229.48 crore from Rs 149.61 crore – up 53.39 per cent.
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