CTTA H1 auction earnings drop 15%

Tea producers and traders who operated via the auctions of Coonoor Tea Trade Association (CTTA) have dropped fourteen.84 for each cent in the first half of latest calendar (H1) as when compared to the exact period of time the preceding 12 months. This happened for the reason that a total of 26 lakh kg tea was not marketed inspite of the producers slashing the selling price by ₹5.91 for each kg, reveals our examination of the Market place Experiences. Until June stop, a total of two.fifty one crore kg was marketed as versus two.77 crore kg during Jan-June 2019. The cancellation of some auctions owing to the lockdown led to lessened sales this 12 months. With lessened sales at lower selling price, the general earnings in H1 dropped to ₹231.45 crore from ₹ 271.seventy nine crore in Jan-June 2019. This marked a tumble of ₹40.34 crore or fourteen.84 for each cent.