In a remarkable trade development, the
Guwahati Tea Auction Centre or GTAC witnessed the sale of Assam tea amounting
to a staggering Rs 2,300 crore in the fiscal year 2023-24.
This figure underscores the importance of
GTAC in the global tea industry, not only as a bustling hub for tea trading but
also as a record-setter for auction prices.
The GTAC, constituted in 1970, has been
known for its huge volume of CTC tea auctions, making it one of the most
prominent tea trading facilities worldwide.
The exceptional quality of Assam tea was
highlighted when the rare and exquisite Manohari Gold Tea, cultivated in the
Dibrugarh district of eastern Assam, fetched an unprecedented Rs 1.15 lakh per
kilogram at a private auction on the Tea Inntech portal.
About Guwahati Tea Auction Center, this
year from Sale No. 14 (April 1st Week) to Sale No.49 (December 1st Week) GTAC
sold 114.29 m kgs at the average price of Rs 198.51 against last year in the
same period sold 114.50 m kgs at an average price of Rs 201.14, said Ramesh
Mundhra of Mundhra Tea Company, Guwahati.
As per Tea Board Production Data, the
Indian Tea crop from Jan-Oct is 1163.06 m kgs against Last year (Year 2022) of
1166.34 m kgs.
This auction set a new benchmark for tea
auction prices, surpassing the previous record of Rs 99,999 per kilogram
achieved by the same variety at GTAC in December 2021.
The GTAC’s success is further
illustrated by the sale of approximately 165 million kg of tea during the
fiscal year 2022-23, which amounted to over Rs 3,300 crore, with an average
price of Rs 191.26 per kg.
This performance indicates a growing
demand for Assam tea on a global scale, with expectations for even higher sales
in the subsequent financial year.
Assam’s tea industry continues to
thrive, with the State aiming to achieve food self-sufficiency within the next
two years, as stated by Assam Chief Minister Dr Himanta Sarma.
The GTAC plays a pivotal role in this
ambition, serving as a testament to the region’s rich tea heritage and its
capacity to attract international attention through its premium tea offerings.
It is pertinent to mention here that the
most sought-after tea brands from Assam Tea Garden selling in GTAC are –
Halmari, Hookmool, Sotai, Khona, Banamalie and Gelakey.
According to Guwahati Tea Auction Buyer’s
Association or GTABA Secretary Dinesh Bihani, this year a special tea named
Golden Needle tea was sold at Rs 61,000 per kg.
The most premium buds are carefully
handpicked from the premium P-126 cultivar of the Camellia sinensis variety
assamica plant, and then withered, oxidized and dried.
The tea is basically manufactured in
Jorhat and Dibrugarh area.
NE Watch Desk
