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The cumulative turnover at the Coonoor Tea Trade Association (CTTA) auction in the first seven months of current calendar has risen by 14.78 per cent over the same period of 2016.
This has happened because of 56 lakh kg increase in the volume sold despite the price falling by ₹4.71 a kg, reveals our analysis of the market reports.
Till July, 30 auctions had been held when, to activate demand and increase the intake, the asking price was reduced to an average of ₹91.85 a kg from ₹96.56 in the same months of 2016.
This helped the volume sold rise to 3.27 crore kg from 2.71 crore kg.
Consequently, the overall earnings rose to ₹300.35 crore from ₹261.68 crore.
This increase of ₹38.67 crore marked a growth of 14.78 per cent.
The additional earnings lay spread among the growers, manufacturers, brokers, buyers and workers.
If the same trend continues, the overall earnings at the end of this calendar would be ₹60 crore more than 2016, trade sources predict.
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