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CTTA’S earnings till Q3 rise over 3%

CTTA’S earnings till Q3 rise over 3%

OCTOBER 11 2018

 

Tea producers and traders who operated through the auctions of the Coonoor Tea Trade Association (CTTA) in the first three quarters (Q3) of this calendar have earned 3.18 per cent more than last year. This happened because six lakh kg more volume was sold even as the average price rose by 1.59 a kg, reveals our analysis of the Market Reports.

 

Till September, 39 auctions had been conducted. In the context of lower production in the country and more so in South India, the demand from both upcountry buyers and exporters helped the prices to rise. The average price rose to 87.49 a kg from 85.90 in the nine months of 2017.

 

Despite this, buyers showed interest to increase their intake to build up their stocks. Hence, a volume of 4.65 crore kg was sold in the nine months against 4.59 crore kg in the same months of last year. Consequently, the cumulative turnover in the first three quarters increased to 406.83 crore from 394.28 crore in the corresponding period of 2017. This increase of 12.55 crore marked a gain of 3.18 per cent. At this rate, traders expect the overall turnover this year to rise to 530 crore from last year’s517 crore.

 

Source:https://www.thehindubusinessline.com

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