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For the second consecutive month, the cumulative turnover at the auction of Coonoor Tea Trade Association has increased over the relevant period of 2014.
Till April end, the cumulative turnover was lagging behind last year by ₹5.95 crore or 4.11 per cent. This trend was reversed in May when the turnover increased, for the first time in 2015, by ₹2.26 crore or 1.31 per cent.
Now, by end-June, the cumulative turnover continued to be higher than last year. This has happened because of selling a higher volume. For several weeks, nearly 30 per cent of the offer had remained unsold for want of buyers at high prices. So, producers reduced the asking price to an average of ₹6.12 a kg. This helped the sale volume to rise by 28 lakh kg.
In the 26 auctions held till June, the volume sold rose to 2.92 crore kg from 2.64 crore kg in 2014. The average price dropped to ₹73.35 a kg from ₹79.47.
Consequently, the cumulative turnover increased to ₹214.18 crore in the first half of 2015 from ₹209.80 crore in the same period of 2014, marking a growth of ₹4.38 crore or 2.09 per cent.
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