CTTA H1 auction earnings drop 15%

Tea producers and traders who operated as a result of the auctions of Coonoor Tea Trade Affiliation (CTTA) have lost fourteen.84 for each cent in the initially 50 % of existing calendar (H1) as as opposed to the same period the former calendar year. This happened for the reason that a complete of 26 lakh kg tea was not sold regardless of the producers slashing the price tag by ₹5.ninety one for each kg, reveals our analysis of the Marketplace Reviews. Until June end, a complete of 2.51 crore kg was sold as against 2.77 crore kg through Jan-June 2019. The cancellation of some auctions owing to the lockdown led to lowered income this calendar year. With lowered income at lower price tag, the total earnings in H1 dropped to ₹231.forty five crore from ₹ 271.seventy nine crore in Jan-June 2019. This marked a tumble of ₹40.34 crore or fourteen.84 for each cent.