Tea producers and traders who operated through the auctions of the Coonoor Tea Trade Association have earned 21.5 per cent more in the first four months of this calendar year over the same months in 2018. This was possible because 20 lakh kg more tea was sold despite the average price rising by ₹7.11 a kg, reveals our analysis of market reports.
Until April end, 17 auctions had been conducted. With North Indian teas out of the market till March due to the Tea Board’s order to stop production in winter months there, increased demand prevailed for teas from upcountry buyers and some exporters. This pushed up prices even as the purchased volume rose. Unusually, in many auctions, the average price rose above ₹100 a kg.
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