Commodities

Teas worth ₹ 5.82 cr unsold at Coonoor auction

PS Sundar Coonoor | Updated on February 28, 2020 Published on February 28, 2020

Tea producers in the Nilgiris are worried that substantial volumes, almost half the offer, are remaining unsold at the auctions of Coonoor Tea Trade Association.

At Sale 9 that concluded on Friday, teas worth ₹5.82 crore remained unsold as there were no takers for as much as 47 per cent of the offer.

This was the highest value of unsold teas in recent months. Consequently, the turnover in just one week dropped by ₹23 lakh or 3.32 per cent.

“We have requested Tea Board not to go for selective implementation of law but to fix a minimum support price for our teas sold at public auctions because the Board is fixing the average price we have to pay the growers while procuring our raw material, the green lea,f” L Vairavan, Secretary, The Nilgiri Bought Leaf Manufacturers’ Association, told Business Line.

“We have also urged tea board to take steps to activate demand for our teas,” he added.

Published on February 28, 2020
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