In just two months – the opening months of 2021 – the earnings at the auctions of Coonoor Tea Trade Affiliation (CTTA) have enhanced by a whopping ₹ 56.87 crore or 86.51 per cent more than January and February 2020.
This has took place because of 12.70 lakh kg much more tea currently being marketed even as the common rate rose by ₹50.32 per kg, reveals an analysis of the industry reports.
As North Indian plantations are shut for winter season, upcountry purchasers and exporters were essential to source their teas from the South and they discovered that the high-quality of the winter season teas in The Nilgiris has enhanced. “So, we paid a higher rate to procure the teas at CTTA auctions”, a customer advised BusinessLine.
The common rate rose to ₹133.13 a kg from ₹82.eighty one in January and February of 2020.
Even so, the demand was strong and the quantity marketed rose to nine.20 million kg (mkg) from 7.ninety three mkg kg in January and February 2020.
As much more quantity was marketed at higher rate, the over-all earnings rose to ₹122.forty eight crore from ₹65.67 crore, marking an improve of ₹56.87 crore or 86.51 per cent.