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The turnover in the auctions of Coonoor Tea Trade Association has fallen by 4.68 per cent in the first quarter of current calendar over the same period of last year, reveals an analysis of the Market Reports.
This has happened despite higher prices as lesser volume was sold. The demand was inadequate to absorb the teas at higher prices and only a lower volume could be sold when the asking price was more.
In all, 12 auctions had been conducted between January and March. The average price increased to Rs 72.41 a kg from Rs 69.56 last year. But, this pulled down the volume sold to 9.98 million kg (mkg) from 10.90 mkg in 2010. Consequently, the turnover dropped to Rs 72.27 crore from Rs 75.82 crore. This decline of Rs 3.55 crore marked a fall of 4.68 per cent.
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