Agri Business

CTTA H1 auction earnings drop 15%

PS Sundar Coonoor | Updated on July 10, 2020

Tea producers and traders who operated through the auctions of Coonoor Tea Trade Association (CTTA) have lost 14.84 per cent in the first half of current calendar (H1) as compared to the same period the previous year. This happened because a total of 26 lakh kg tea was not sold despite the producers slashing the price by ₹5.91 per kg, reveals our analysis of the Market Reports. Till June end, a total of 2.51 crore kg was sold as against 2.77 crore kg during Jan-June 2019. The cancellation of some auctions due to the lockdown led to reduced sales this year. With reduced sales at lower price, the overall earnings in H1 dropped to ₹231.45 crore from ₹ 271.79 crore in Jan-June 2019. This marked a fall of ₹40.34 crore or 14.84 per cent.

Published on July 10, 2020

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