The cumulative turnover of Coonoor Tea Trade Association auctions in the first eight months of current calendar has risen by 29.06 per cent over the corresponding period of 2012.
This has happened because some 27 lakh kg more volume had been sold with average prices increasing by Rs 16 a kg, reveals our analysis of market reports.
In all, 35 auctions had been held till August-end when 3.99 crore kg had been sold against 3.72 crore kg in 2012.
Export purchase showed improvements while upcountry buyers demanded top liquoring tea resulting in average price increasing to Rs 94.59 a kg from Rs 78.61 last year. In fact, the average price had fallen from Rs 96.10 registered till July-end (till July-end last year: Rs 77.42).
Consequently, between January and August, the cumulative turnover increased to Rs 377.41 crore from Rs 292.43 crore – up by Rs 84.98 crore or 29.06 per cent.
The increased turnover was spread among factory owners, growers, traders, workers, auctioneers and warehouse keepers.