Kochi Tea Buyers Association opposes changes in Bharat Auction 

The Cochin Tea Buyers Association has expressed concern about the difficulties it is facing following the introduction of new changes in the 20 sale spice auction.

Working in the new system has become a daunting task for buyers especially with the automatic replacement of sold lots while other lots remain active in the trading screen and with the mixing of lots, said Anil Kumar Prabhu, the chairman of the association.

In a representation of the Chairman of Tea, Prabhu said that the sudden appearance of new lots in place of sold lots prevents buyers from adjusting the bid price or being able to enter new bids in the pending lots that appear at the bottom of the screen to make up. or replace the missing quantity. All this happens quickly with confusion.

losing bids

Each time the buyers have to write the price to review the bid, and that too on several lots shown on the live screen. Buyers can’t quickly identify which parts have been purchased and which lot has been lost. Because of this, he said, in-state and inland buyers, who buy against their requirements from prime buyers, have lost a lot of pieces.

“We fail to understand the logic behind this new system and are amazed at why the Tea Board had introduced such a system which we believe no South Indian trade union wanted. Alternatively, if a single button similar to “in” or “out” is enabled to increase the bid price, all buyers can operate effectively,” he said.

The association urged the board of directors to return to the old system used until last week.

said a major Coonoor buyer Business line The Tea Board’s intention is to speed up the sell-off, but it has led to less participation in a bear market with heavy drawdowns.