The Hindu Business Line : e-tea auction to go live on May 29

Trade sources are gearing up for the inaugural trading session, particularly because Coimbatore has emerged as the first auction centre in the country to have an Internet-based trading platform.

Having committed to drive technology in the existing tea auction system in the country, the Tea Board, under phase I of the project identified Guwahati in the north and Coimbatore in the south for development. The board has set aside Rs 23 crore to hook up all the seven auction centres (three in the north and four in the south) in the country.

Tea Board sources said although eAuction was only one module, it was a key component in the tea portal, which aimed at disseminating information to the trade and industry.

Trade sources underwent training in December last and a mock trading session was held last week. The suspense and delay in kick-starting the electronic auction process has come to an end

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e-tea auction to go live on May 29