FOR THE RECORD -- 29:

CTTA TURNOVER INCREASES BY ` 10 Cr

P S SUNDAR

                Producers and traders who operated through the auctions of Coonoor Tea Trade Association (CTTA) in January and February have earned ` 10.01 crore more compared to the same months of 2016. 

“This has happened because 5.17 lakh kg more tea was sold even as the average price rose by ` 6.72 per kg, thanks to increased demand from upcountry buyers and higher quality of winter tea”, CTTA Chairman Ramesh Bhojarajan told me.

In the two months, eight auctions had been conducted when the average price rose to ` 107.69 per kg from ` 100.97 following increased demand for better quality tea grades resulting in the volume sold rising to 71.31 lakh kg from 66.14 lakh kg.

Consequently, the cumulative turnover increased to ` 76.79 crore from ` 66.78 crore.  This increase of ` 10.01 crore marked a growth of 15.13 per cent. If this trend continues, the year may end up with the turnover increasing by ` 60 crore over 2016.

Darmona Tea Industry, a small-scale tea factory, has created a new record in the 54-year-old history of CTTA by topping the auction for the third consecutive week beating entries of all kinds of tea from all manufacturers including corporates. 

“We have broken our own earlier price records.  We have also fetched the year’s highest price scripting a new page in CTTA annals as a grade from a small-scale factory beating even corporate tea grades”, said Darmona’s Managing Partner Dinesh Raju.

(response can also be sent to: pssundar.coonoor@gmail.com)