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Tea Trade Association has voiced concern over the Kochi port’s decision to increase lease rent rates in Willingdon Island.
The hike in rates will have adverse effects on several business establishments in the island, especially on the tea trading community at a time when the Kochi Tea Auction Centre maintained its leading position in the total tea sales last year, AE Joseph, the outgoing Chairman of the Tea Trade Association of Cochin, has said.
Addressing the 22{+n}{+d} annual general meeting, he pointed out that Kochi continued to maintain its pre-eminence with 44.20 per cent in the total sales against 43 per cent for Coonoor and 12.76 per cent for Coimbatore. The average price realised from the auction centre last year was ₹113.04 against ₹89.32 for Coonoor and ₹94.99 for Coimbatore.
The association was served a notice by the port management imposing “exorbitant” lease rents with retrospective effect from April, 1, 2012, he said. The association, along with other affected parties, has decided to challenge the decision legally, he said.
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