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Producers and traders who operated through the auctions of Coonoor Tea Trade Association (CTTA) in calendar 2018 have earned 9.72 per cent more than in 2017.
This has happened because about 15 lakh kg more volume was sold despite the average price rising by ₹6 a kg, reveals our analysis of the Market Reports.
In all, 51 auctions were held in 2018 when the average price rose to ₹90.27 a kg from ₹84.28 in 2017 due to increased demand from upcountry buyers and the exporters following reports of lower production and hence lower availability.
This demand helped the volume sold to rise to 6.29 crore kg from 6.14 crore kg in 2017 despite the price rise.
With more tea being sold at higher price, the overall earnings rose to ₹567.80 crore from ₹517.48 crore in 2017. This increase of ₹50.32 crore marked a growth of 9.72 per cent.
This increase lay spread among the producers, domestic traders, exporters, factory owners, brokers and workers.
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