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The cumulative turnover of the auctions of Coonoor Tea Trade Association (CTTA) in the three quarters of the current calendar year has increased by 16.43 per cent over the same period last year.
This has happened despite a sharp fall of ₹10.44 per kg in the price earned because as much as 1.15-crore kg more tea was sold in the nine months, according to an analysis of market reports.
Till September, 39 auctions were held when the average price dropped to ₹85.90 a kg from ₹96.34 in the same months last year.
Producers opted for the drop in price to reduce the volume of unsold tea. This helped the sale volume to rise to 4.91-crore kg from 3.76-crore kg.
Consequently, the cumulative turnover increased to ₹421.77 crore from ₹362.24 crore.
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