The Bharat Auction model for tea, which is already functional in south India, will be introduced in north India in March, an industry official said on Saturday.
The pilot project will be conducted on March 1 so that all the features get tested by the stakeholders, following which the Bharat Auction model will be introduced in Calcutta, Guwahati, and Siliguri from March 22.
“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 said.
CTTA conducts the auctions in Calcutta, while the Tea Auction Committee does both in Siliguri and Guwahati. He said the new auction has been already functioning in south India, adding that the volume of tea transacted there is much lower than in north India.
Kalyanasundaram said that the basic difference between the two systems is that in the Bharat Auction model, the bids have to be entered before the lots are offered to go live, while in the English system, the bids can be made till a lot is ‘knocked off’ (sold).
In 2022, tea volumes sold through the auctions in north and south India stood at 590.5 million kg.
PTI
