The cumulative turnover of Coonoor Tea Trade Association auctions till November has increased by 32.86 per cent over the corresponding period last year.
This has happened because more volume was sold at higher prices, reveals our analysis of the market reports.
In all, 48 auctions had been conducted in the first 11 months of 2012. A total volume of 5.13 crore kg had been sold against 4.94 crore kg last year. Helped by an increased demand, the average price rose to Rs 81.20 a kg from Rs 63.47 last year.
Consequently, the overall turnover increased to Rs 416.56 crore from Rs 313.54 crore. This increase of Rs 103.02 crore marked a growth of 32.86 per cent.
The increased turnover lay spread among growers, factory owners, dealers, buyers, warehouse keepers and workers.