Lorry strike is leaving an impact on the tea trade in Nilgiris. The auctions of Coonoor Tea Trade Association (CTTA) for dust grade tea that are normally hosted on Fridays did not take place this week as scheduled.
“This was due to buyers’ financial limitations to purchase on the last day of financial year. So, we merged the Leaf grade auctions with the Dust grade auctions on Thursday. Nevertheless, there was some resentment in purchase as some upcountry buyers felt that due to lorry strike, they will not be able to move the tea to the destinations”, CTTA Chairman Ramesh Bhojarajan said.
We are told that tea worth rupees 8.45 crore that was bought on Thursday is waiting to be moved to various destinations.
“Besides, if the lorry strike prolongs, more tea will remain in the warehouses in coming days. When the bought tea has not reached its destination, buyers will not get payment. This will lead to cash crunch in coming days”, Ramesh Bhojarajan explained.
“Exporters who are operating fear that the tea may not be able to go to the ports for shipment due to lorry strike”, he disclosed.
“This was due to buyers’ financial limitations to purchase on the last day of financial year. So, we merged the Leaf grade auctions with the Dust grade auctions on Thursday. Nevertheless, there was some resentment in purchase as some upcountry buyers felt that due to lorry strike, they will not be able to move the tea to the destinations”, CTTA Chairman Ramesh Bhojarajan said.
We are told that tea worth rupees 8.45 crore that was bought on Thursday is waiting to be moved to various destinations.
“Besides, if the lorry strike prolongs, more tea will remain in the warehouses in coming days. When the bought tea has not reached its destination, buyers will not get payment. This will lead to cash crunch in coming days”, Ramesh Bhojarajan explained.
“Exporters who are operating fear that the tea may not be able to go to the ports for shipment due to lorry strike”, he disclosed.