GTAC Achieves Record-Breaking Rs 2,300 Crore Assam Tea Sales In 2023-24

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Posted in Assam, Featured, Northeast
NET Web Desk

MIn a remarkable feat, the Guwahati Tea Auction Centre (GTAC) achieved a staggering Rs 2,300 crore in Assam tea sales during the financial year 2023-24.

Established in 1970, GTAC has become a global tea industry hub, renowned for both its bustling tea trading activities and record-setting auction prices, as per reports.

During Sales No. 14 to 49 (April to December), GTAC reportedly sold 114.29 M. kgs at an average price of Rs 198.51, slightly lower than the previous year’s average of Rs 201.14

Notably, the rare Manohari Gold Tea fetched an unprecedented Rs 1.15 lakh per kilogram at a private auction on the Tea Inntech portal, as per reports.

Additionally, the Indian Tea crop from January to October totaled 1163.06 M. Kgs, slightly lower than the previous year’s 1166.34 M kgs, as per Tea Board Production Data.

Moreover, the sale at GTAC surpassed the previous record, with an average price of Rs 191.26 per kg, indicating a growing global demand for Assam tea.

Approximately 165 million kg of tea was sold during the 2022-23 fiscal year, amounting to over Rs 3,300 crore, as per reports

Assam’s Chief Minister, Himanta Sarma, envisions food self-sufficiency within two years, with GTAC playing a pivotal role in promoting the region’s rich tea heritage globally.

The most sought-after tea brands from Assam Tea Gardens, including Halmari, Hookmool, Sotai, Khona, Banamalie, and Gelakey, continue to dominate GTAC auctions, as reported.

Dinesh Bihani, Secretary of the Guwahati Tea Auction Buyer’s Association (GTABA), highlighted the sale of the special Golden Needle tea at Rs 61,000 per kg, produced in the Jorhat and Dibrugarh areas from the premium P-126 cultivar of the Camellia sinensis var. assamica plant.

GTAC’s success in 2023-24 sets the stage for continued growth, with expectations of even higher sales in the coming financial year, showcasing the resilience and global appeal of Assam’s tea industry.

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