Calcutta, Jan. 25: The Tea Auction Buyers’ Association of Calcutta has finally agreed to participate in the auction on January 28, an association release said.
Inder Singhee, president of the association, said the members had decided to take part in the auction after the commerce ministry along with the Tea Board promised to review certain provisions of the amended Tea (Marketing) Control Order.
The association members had a meeting with officials of the Tea Board and the Calcutta Tea Traders Association.
The directive on payment terms and imposition of 5 per cent premium on broken lots in the amended tea control order had unnerved the tea-buying community all over the country and they had virtually boycotted the auction process.
According to the new provisions, the government has notified a six-day payment schedule after the auction. Earlier there used to be a 14-day payment schedule. A 5 per cent premium on broken lots has also been imposed. The tea buying community is also irked by the government’s decision to introduce cash-and-carry system in tea auctions from next year.
“We have been pleading with the ministry and the Tea Board about the problems the small and medium buyers will face due to introduction of the new provisions. We hope the authorities will understand and remove the undesired provisions in the new order,’’ Singhee said.