Guwahati Tea Auction Sells Assam Tea for Rs 2.3K Crore in FY23-24

By siliconindia  |  Tuesday, 19 December 2023, 00:45 IST

Guwahati Tea Auction Sells Assam Tea for Rs 2.3K Crore in FY23-24
In the fiscal year 2023-24, Guwahati Tea Auction Centre (GTAC) recorded the sale of Assam Tea amounting to Rs 2,300 crore. Approximately 115 million kg of tea was auctioned at an average rate of Rs 198.51 per kg, according to GTAC data. Dinesh Bihani, Secretary of the Guwahati Tea Auction Buyers Association (GTABA), mentioned that a distinctive tea variety named 'Golden Needle' fetched an impressive Rs 61,000 per kg this year.
"December has arrived, and this year's tea manufacturing season is almost over. An estimated 115 million kg of tea was sold between April 1 and the first week of December at an average price of Rs 198.51 per kg. We sold 114.50 million kg of tea at an average price of Rs 201.14 per kg during the same period last year", he said.
"We hope to be able to get additional tea in the coming days". Despite selling a slightly higher quantity of tea this year compared to the previous year, Bihani observed that the average price of the commodity declined when comparing the two years.
He also discussed the broader perspective, highlighting the adverse effects that recent global events such as conflicts and climate change have had on the tea industry. "To address the problems posed by climate change and lessen its effects on the tea business, collaborative actions with stakeholder groups and associations are now in progress", he said. Bihani emphasized GTAC's involvement in the International Tea Trade Fair and the free tea distribution on International Tea Day, celebrating 200 years of Assam tea.
Source: IANS

ON THE DECK

siliconindia