Agri Business

Tea auctions for 2018 begin on a happy note

PS Sundar Coonoor | Updated on January 09, 2018 Published on January 09, 2018

Tea auctions of Coonoor Tea Trade Association (CTTA) for 2018 have begun on a happy note with average price rising to 8-month high level. With many North Indian plantations and factories closed because of harsh winter conditions, upcountry buyers and select exporters exerted pressure on purchasing the Nilgiri tea sold at CTTA auction. This pushed up the average price to ₹88.77 a kg, as much as ₹4 more than the last auction of 2017 and as much as ₹10 more than the price fetched a month ago. This was also the highest price fetched since May 5, 2017. That means, it marked the highest average price of the last eight months. Despite this, as much as 87 per cent of the offer was sold out because of increased winter demand. However, the current average price is as much as ₹20 less a kg compared to this time last year.

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Published on January 09, 2018
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