Drop

CTTA H1 auction earnings drop 15%

Tea producers and traders who operated by way of the auctions of Coonoor Tea Trade Association (CTTA) have lost 14.84 for every cent in the first 50 % of present calendar (H1) as when compared to the exact same period the former 12 months. This took place simply because a overall of 26 lakh kg tea was not bought in spite of the producers slashing the price by ₹5.91 for every kg, reveals our examination of the Market Stories. Until June end, a overall of 2.51 crore kg was bought as in opposition to 2.seventy seven crore kg through Jan-June 2019. The cancellation of some auctions thanks to the lockdown led to lowered income this 12 months. With lowered income at decreased price, the total earnings in H1 dropped to ₹231.45 crore from ₹ 271.seventy nine crore in Jan-June 2019. This marked a fall of ₹40.34 crore or 14.84 for

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