Tea traders' association rules distort tea auction in Nilgiris

摘要

Weekly tea auctions are held at Kolkata, Guwahati and Siliguri in North India and at Cochin, Coimbatore and Coonoor in South India. The total numbers of brokers who deal with Indian tea are about five in North and nine in South. Under this system, the producer dispatches its tea to the warehouses that were approved by the tea traders' associations and the Tea Board. The broker takes representative sample from the chests stored in the warehouse and tastes them. Based on the results of tasting and his knowledge of market potential, he evaluates the tea and communicates it to the producer. Also sends the samples to prospective buyers along with catalogues with details of grades, number of lots and the quality in each lot with date and time of auction. Under the auction system producer, broker and buyer have to be the members of tea trade association. The sale is based on knocked down price in favour of the highest bidder and the sale is confirmed at the fall of the hammer provided prices are satisfactory to the broker. Within a fortnight the highest bidder pays the value to the broker. Who transfers the money to the producer the following day. Then the consignments lifted by the buyers.