Commodities

8% rise in Coonoor tea auction earnings

PS Sundar Coonoor | Updated on August 20, 2019 Published on August 20, 2019

Tea producers and traders who operated through the auctions of Coonoor Tea Trade Association have earned 7.65 per cent more till July compared with the January-July 2018 period.

This happened because of getting ₹ 8.74 more per kg despite selling 8 lakh kg less, reveals an analysis of the Market Reports.

Till July end, 30 auctions were conducted. Till March, as there was no production in North India due to winter closure of factories, upcountry buyers were purchasing more teas from Coonoor auctions. However, after April, North Indian teas are hitting the market in huge volumes and so, upcountry buyers are now sourcing most of their tea requirements from North Indian auctions.

Consequently, the volume sold in the seven months has dropped to 3.43 crore kg from 3.51 crore kg in Jan-July 2018.

Published on August 20, 2019
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