CTTA H1 auction earnings drop 15%

Tea producers and traders who operated by the auctions of Coonoor Tea Trade Affiliation (CTTA)

Tea producers and traders who operated by the auctions of Coonoor Tea Trade Affiliation (CTTA) have dropped fourteen.eighty four for each cent in the initial 50 % of current calendar (H1) as compared to the similar period the past yr. This occurred because a total of 26 lakh kg tea was not offered in spite of the producers slashing the selling price by ₹5.ninety one for each kg, reveals our investigation of the Current market Experiences. Till June end, a total of 2.51 crore kg was offered as in opposition to 2.77 crore kg during Jan-June 2019. The cancellation of some auctions thanks to the lockdown led to lessened gross sales this yr. With lessened gross sales at lower selling price, the in general earnings in H1 dropped to ₹231.45 crore from ₹ 271.seventy nine crore in Jan-June 2019. This marked a drop of ₹40.34 crore or fourteen.eighty four for each cent.