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At the auctions of Coonoor Tea Trade Association (CTTA), the overall earnings in the first seven months of current year have risen by 4.91 per cent over the same period of 2015, reveals an analysis of the market reports.
This is despite the sold volume crashing by 73 lakh kg because of prices rising by ₹24 a kg. Till July end, 30 auctions had been conducted when the average prices rose to ₹96.56 per kg from ₹72.51 a kg in 2015.
When the asking prices rose, the buyers’ resistance prevailed and the volume sold dropped to 2.71 crore kg from 3.44 crore kg. Nevertheless the high prices helped the overall earnings to rise to ₹261.68 crore from ₹249.43 crore.
This increase of ₹12.25 crore marked a growth of 4.91 per cent. The average prices of orthodox teas rose to ₹109.53 a kg from ₹90.92, while that of CTC teas to ₹95.20 from ₹71.02.
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