Comments
The cumulative turnover at Coonoor Tea Trade Association (CTTA) auctions till last month has risen by ₹34.92 crore over the same period last year.
This has happened because of the 6-lakh kg increase in the volume sold despite prices falling by ₹7.30/kg.
After the implementation of GST on July 1, CTTA auctions had been facing rough weather, with no takers for a substantial portion of the offer. To reduce the unsold stock, producers sacrificed on prices.
Till August-end, 34 auctions were had been held when the average price was reduced to ₹88.41/kg from ₹95.71 in the same months of 2016.
This helped the volume sold rise to ₹3.87 crore kg from 3.21 crore kg.
Consequently, the overall earnings rose to ₹342.15 crore from ₹307.23 crore. This increase of ₹34.92 crore marked a growth of 11.37 per cent. The additional earnings lay spread among the growers, manufacturers, brokers, buyers and workers.
Meanwhile, at this week’s auctions, only three grades of CTC teas from bought-leaf factories entered the high-price bracket of ₹200 a kg.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.