CTTA turnover in 2015 up 3%

Although the players at the auctions of Coonoor Tea Trade Association (CTTA) had suffered lower realisations in many months of 2015 compared to 2014, the year has ended with the cumulative turnover increasing by 2.84 per cent over 2014. Till December end, 52 auctions had been held. Since about 25 per cent of volume had remained unsold in most auctions, producers reduced their asking price to induce higher absorption. This eventually resulted in the average price falling to ₹72.43 a kg from ₹73.01. The lower price helped higher absorption with the volume sold rising to 5.95 crore kg from 5.74 crore kg. This helped the overall turnover to rise to ₹430.96 crore from ₹419.07 crore – a growth of 2.84 per cent.