Over 30 buyers participated in the Orthodox tea auction in Kolkata, the first time in 12 years

Kolkata,  11 Nov. More than 30 buyers enthusiastically bid on more than 14,000 packets of orthodox tea in a hand auction, the first in the city in 12 years. The last such sale took place in 2011, after which the orthodox tea sale moved to an electronic auction.  Buyers bid on 795 lots comprising 14,343 parcels from  J Thomas, Parcon, and Contemporary catalogs. The special pre-Diwali sale was organized by the newly formed Tea Auctioneers Association (ATA).   The handmade tea auction was once a party. “Manual auction has its own charm and it was revisited in this special pre-Diwali sale. It was a nostalgic occasion when buyers sat in their seats at Nilhat House, the same seats they were used to  12 years ago before e-auctions,  said. the secretary of the association.Sujit Patra for the business line.    

“All the buyers were very active during the auction process, which increased the competition and resulted in a good deal,” Patra said. Foreign inquiries raise hopes of orthodox tea exporters in Kochi auctions. According to Parcon CEO Subir Das, ATA (Tea Auctioneers Association) was formed to strengthen the auction system in North and South India. About 13 tea auctioneers licensed by the Tea Board, including majors J Thomas, Contemporary Brokers, Paramount, Parcon, Forbes, and Assam Tea Brokers,  formed the ATA. ATA may plan another major hand auction before International Tea Day on 21 May  2024.  India’s tea auction system sells about 40 percent of all the tea produced in India. Auctioneers and buyers rely on their auctioneers for value, quality standards, and dispute resolution. In addition to these functions, individual auctioneers liaise with auction committees, the Tea Board, and associations of producers and buyers to ensure the smooth functioning of the auction system. However, there was no formal institution to collectively address auction-related issues in the general interest of Indian business. “This necessitated the formation of an umbrella body to promote the welfare of tea auctioneers in North and South India and protect their rights and interests,” Patra said, adding that the  Tea Auctioneers Association is registered under the Companies Act, 2013.

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