Tea Auction

A TCPL spokesperson said that the lockdown had impacted the supply of tea to some extent and it was buying from multiple channels, including directly from plantation companies

After a healthy start to tea auction this year, north and south India has two different tales to narrate.While the average auction price in April has fallen by 7.2 per cent at Rs. 136.04 a kilo in the country's northern auction centres, the prices in south Indian auction houses rose by a meagre one per cent at Rs. 113.04 a kilo.In January, the northern auctions kicked off at Rs. 126.86 per kg while the price in south India stood at Rs. 112.24 a kilo.Industry officials said the price decline in the northern auctions is primarily on account of the inferior quality of tea from the first flush which got affected due to excessive rains. Heat wave in south India affected the production there too.Not only did production volume fell by 25.15 per cent at 41.40 million kg (mkg) in north India last month, with the fall accounting for 4.61 per cent at 14.68 mkg in south India, the quality of tea suffered a lot.S. S. Bagaria, chairman and managing director of the Bagaria Group opined that the ...

Payments from buyers are being kept in the Settlement Account of the bank and are not being remitted to sellers

So far, the Coonoor, Kochi, Kolkata and Guwahati auction centres fared well while Siliguri took a backseat