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The falling trend witnessed in the earnings of Coonoor Tea Trade Association (CTTA) auctions in the first quarter of current calendar continued in April due to low prices.
Consequently, the cumulative turnover till April had fallen by 7.57 per cent over the same months of 2017, reveal Market Reports.
Till April end, 17 auctions were conducted when to prevent the piling of unsold teas, producers reduced their asking price. This led to the average price falling by ₹13.12 a kg but that helped the absorption of tea by eight lakh kg.
In the four months, the average price dropped to ₹93.16 a kg from ₹106.28 in the same months of 2017.
This pushed up the intake and the sale volume to 1.55 crore kg (1.47 crore kg).
However, the the overall earnings dropped 7.57 per cent to₹ 144.40 crore from ₹156.23 crore.
If this trend continues, producers anticipate the overall earnings in the current calendar to fall by ₹35 crore over 2017.
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