The Bharat Auction mannequin for tea, which is already practical in south India, shall be launched in north India from the top of March, an official in the business mentioned on Saturday.
The pilot mission shall be carried out on March one so that every one the options get examined by the stakeholders, following which the Bharat Auction mannequin shall be launched in Kolkata, Guwahati and Siliguri from March 22, 2023.
“The auction system will shift from the existing English system to the Bharat Auction model from March 22. The pilot auction will be done on March one so that all the features are tested by the stakeholders,” secretary of Calcutta Tea Traders Association (CTTA) J. KalyanaSundaram mentioned.
CTTA conducts the auctions in Kolkata, whereas Tea Auction Committee does each in Siliguri and Guwahati.
He mentioned the brand new auction has been already functioning in south India, including that the quantity of tea transacted there’s a lot decrease than in north India. “Out of odd 600 million kg sold in the country through the auctions, north India accounts for 70% while the balance is in the south,” he mentioned.
KalyanaSundaram mentioned owing to the implementation of the brand new auction system, CTTA had postponed Sale 8 by per week, whereas Sales 9, 10 and 11 have been dropped due to inadequate of tea which is common this time of the 12 months.
It is the seller which had supplied the software program for the brand new auction process, he added.
Though transition from the present system has confronted criticism from a piece of the stakeholders, the Tea Board had been sustaining that it was mandate given to it for implementing the brand new process pan-India.
“Implementation of Bharat auction model pan-India is a mandate given to Tea Board. Criticisms only show resistance to change as the English auction system has been working since 2008-09,” an official of the Tea Board mentioned.
Several tea brokers are of the view that the English system had been working effectively and there’s no want for a change.
Mr. KalyanaSundaram mentioned that the essential distinction between the 2 programs is that in the Bharat Auction mannequin, the bids have to entered earlier than the tons provided go stay, whereas in the English system, the bids may be made until quite a bit is ‘knocked off’ (bought).
In 2022, tea volumes bought via the auctions in north and south India stood at 590.5 million kg.
