Live Markets »News & Advice»Company News»Company News Details
Company News Details
Back

Tea prices drop in Tamil Nadu as HUL and Tata skip auction

T E Narasimhan/Coonoor 14 Sep 17 | 01:43 AM

Representational image

The tea prices in Tamil Nadu dropped to Rs 65 a kg from Rs 95 as Hindustan Unilever and Tata skipped the auctions at Coonoor and Coimbatore. 

Related Stories

    No Related Stories Found
Widgets Magazine

There is no clarity on billing issues after the Goods and Services Tax (GST) implementation due to which both the majors did not participate, S Ramu, founder chairman, Small Tea Growers Association of Southern India said. 

Hindustan Unilever and Tata have been sourcing nearly 70 per cent of the tea, which was coming from these two centres.

Previously, buyers and producers used to deal directly. Now, producers want to deal directly, but the buyers face difficulty as they need to work with different factories. Due to complications, the buyers now deal through sub agents.

It is a temporary issue which will be resolved soon, the grower added.

However, C Paulrasu, executive director, Tea Board at Coonoor said 20 million kilos have been produced extra compared to last year. The board attributed the price drop to excess arrival in the market.

Widgets Magazine

Sensex

Company Price Gain (%)
Sun Pharma.Inds.534.303.46
Dr Reddy's Labs2,343.502.91
Cipla620.002.89
Bharti Airtel505.502.61
Lupin843.502.09

Poll

It has been a year since demonetisation was announced. What is your view about the move?



Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine