The auctions of Coonoor Tea Trade Association for calendar 2017 have started on an encouraging note as January has posted 10.74 per cent increase in overall realisation over January 2016.
This has happened despite selling some 80,000 kg less tea because of the sharp increase in price of ₹13 a kg.
In all, four auctions were conducted in January when the prices rose to an average of ₹107.92 a kg from ₹95.35 in January 2016.
This created a hesitation among buyers who showed less tendency to buy some grades. Besides, the lower production limited the availability of tea choice for the buyers.
Consequently, the volume sold dropped to 3.61 million kg (mkg) from 3.69 mkg. Nevertheless, because of the higher price, the overall turnover rose to ₹38.96 crore from ₹35.18 crore. This increase of ₹3.78 crore marked a growth of 10.74 per cent.
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