A variety of Assam tea broke its own day-old auction record on Wednesday when it went under the hammer for Rs 70,501 at the Guwahati Tea Auction Centre (GTAC).
The variety is known as Maijan Golden Tips, said Secretary Guwahati Tea Auction Buyers Association, Dinesh Bihani. He said that the tea is often sold at a price much higher than this through private negotiations.
“It is a historic moment for the Assam Tea Industry and the GTAC. It shows that buyers are crazy to buy good quality tea at any price,” said Bihani.
The manufacturers of the variety are, Assam Company, and the garden is Maijan Tea Estate near Dibrugarh. They describe the tea variety as “specially hand plucked, second flush produce from select clonal plants”.
On Tuesday, a variety of Assam tea, Manohari Gold Special tea, was auctioned at Rs 50,000 per kg at the GTAC. Last year, the same variety was auctioned for Rs 39,001/kg. Also, last August, a tea variety from a garden in Arunachal Pradesh was auctioned at at Rs 40,000 per kg.
Assam accounts for nearly 55% of India’s tea production. The GTAC has 665 sellers, 247 buyers and nine brokers, besides 34 warehouses, registered with it. Indicators that buyers look for in a tea variety include appearance, quality/strength of the liquid form, aroma and “keeping quality” — how well the tea will keep if stored for a long time.