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The cumulative turnover in the first three quarters of current calendar for Coonoor Tea Trade Association (CTTA) auctions has posted a gain of 12.87 per cent over the same period of 2015.
This happened despite the volume sold falling by 75 lakh kg because of the sharp increase of about ` 25 a kg in the average price, reveals our analysis of Market Reports.
“Till September end, 39 auctions had been conducted at CTTA when 3.75 crore kg had been sold at an average price of ` 96.34 a kg”, M Ravichandran Broos, General Manager, Paramount Tea Marketing (South India), told Business Line .
The average price had increased from ` 71.13 a kg in the same months of 2015 resulting in some resentment in buying reducing the volume sold to 4.50 crore kg.
The higher price offset the loss in volume sold and helped the overall earnings to rise to` 361.28 crore from ` 320.09 crore in Jan-Sep 2105.
This increase of ` 41.49 crore marked a growth of 12.87 per cent.
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