Govt reviews rolling out of pan-India e-auction for tea

Commerce and Industry Minister Nirmala Sitharaman has reviewed rolling out pan-India e-auction for tea with a view to streamline the process and ensure faster realisation.

"Faster realisation of auction proceeds is likely to address the demand of the producers who hesitate to offer their teas in auction due to longer credit period," tweeted Sitharaman.

On the first day, Coonoor has registered the highest amount of sale.

"On the first day of the auction following sales were made with regard to lots offered. Kolkata (73%), Cochin (42%), Coonoor (92%)," she said.

It will "lead to greater transparency in terms of buyers' bidding and settlement of payments," she added.

 

The pan India e-auction was rolled out by the Tea Board in all the auction centres except Coimbatore on June 23.

According to the board, both corporate and small buyers participated in the auction.

It has said that for the first time, Darjeeling Tea has been auctioned through e-auction.