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The turnover of Coonoor Tea Trade Association auction ending on Friday dropped by 11.85 per cent over the previous week, reveals our analysis of the market reports.
This has happened because of a lower volume sold when prices rose.
On an average, each kg fetched Rs 87.02 this week against Rs 86.72 last week.
With asking prices rising, the purchasers showed hesitation in bids.
Only 77.68 per cent of the offer was sold this week against 88.65 per cent last week.
In all, 9.40 lakh kg was sold against 10.70 lakh kg last week.
Consequently, the turnover dropped to Rs 8.18 crore from Rs 9.28 crore.
This shows a decline of Rs 1.10 crore or 11.85 per cent in just one week.
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