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Prices plummeted to year’s lowest average of Rs 88.25 a kg at Sale No: 28 of the Coonoor Tea Trade Association (CTTA) auction, which ended on Friday.
Prices averaged Rs 91.23 last week, which itself was the second lowest this calendar.
For the first time in the 50 years of CTTA auction, average prices shot over Rs 100-a-kg mark on March 8 and remained at that level till April 26.
Thereafter, prices plunged but this is the first time this calendar that prices have fallen to Rs 90-a-kg level.
The offer of 20.40 lakh kg was the highest so far this calendar.
Only 13.10 lakh kg was sold.
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