COONOOR AUCTIONS -- 10:

COONOOR TEA TURNOVER UP 7%

P S SUNDAR

Producers and traders who operated through the auctions of Coonoor Tea Trade Association have earned 7.38 per cent more till last month compared to the same period of 2016.

This has happened despite sacrificing prices by ` 12.17 a kg because 1.04 crore kg more volume was sold, reveals our analysis of the Market Reports.

Till November, 47 auctions had been conducted.  To avoid piling of unsold teas following fluctuating demand, producers sacrificed prices.  Accordingly, the average price dropped to ` 84.72 a kg from ` 96.89 in Jan-Nov 2016.

This sacrifice helped more tea to be absorbed.  The volume sold rose to 5.60 crore kg from 4.56 crore kg.

Consequently, the cumulative turnover in the 11 months increased to ` 474.43 crore from ` 441.82 crore.

This increase of ` 32.61 crore marked a growth of 7.38 per cent.  

The increased turnover lay spread among producers, buyers, exporters, brokers, warehouse-keepers and workers.

With only one month left for the year to end, traders predict that the turnover this year would be around ` 510 crore against ` 478 crore achieved in 2016.

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