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The Coonoor Tea Trade Association (CTTA) auction earnings in the first four months of the current calendar have fallen by 24.88 per cent over the same period of 2019.
This has happened because 13 lakh kg less tea was sold despite prices falling by ₹17.04 a kg, reveals our analysis of the Market Reports.
Following the disruptions’ in tea trade arising from the lockdown, only one auction (Sale 13) was conducted in April. That particular auction saw buoyancy with more volume being sold at higher price.
The average price dropped to ₹83.15 a kg from ₹100.19 during January-April 2019. Nevertheless, the volume sold dropped to 1.24 crore kg from 1.37 crore kg in January-April 2019.
With less tea being sold at lower price, the overall realisation in the first four months dropped to ₹103.11 crore from ₹137.26 crore.
This fall of ₹34.15 crore marked a decline of 24.88 per cent. The CTTA dropped Sales 14 to 17. Sale 18 was held on May 2.
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