Tea Auction
Record price at mjunction’s Jorhat Tea Auction Centre
Kolkata/IBNS: mjunction's weekly auction at its Jorhat Tea Auction Centre touched a record peak on Monday, when Adition Nutrient Private Limited of Guwahati purchased handmade, organic Tippy Golden Flowery Orange Pekoe (TGFOP) tea of Chenehi Tea Farm at Rs 930 per kg, the company said in a statement.
"This is a shot in the arm for the small tea grower community as Chenehi comes under Mini Tea Factory and is a small tea manufacturer," the B2B e-commerce company said.
E-auction at m-junction's new tea e-marketplace in Assam's Jorhat kicked off on June 1 as part of its MoU with the Tea Board.
mjunction has been also mandated to design, develop and maintain the e-marketplace platform under the agreement.
"Seller and buyer base at the platform has been seeing a steady rise owing to low entry barriers, efficient cycle-time and a cost-efficient sales process. The mjunction team has successfully added a new set of small buyers across the country, who were hitherto not part of the auction system," the statement added.
In the wake of the coronavirus crisis, the e-auction platform was launched with the aim to reduce the sales cycle cycle time, reduce working capital burden, facilitate logistics, provide transparent and easy finance for stakeholders and promote innovation.
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