Press Releases

22

June
2021

Teas fetch record prices at first mjunction International Tea Day Special Auction

June 22: The first International Tea Day Special Auction organised by mjunction services limited, India’s largest B2B e-commerce company, fetched record prices and met with resounding success at the Jorhat tea e-marketplace yesterday.

Most of the best marks of Upper Assam like Hookhmol, Lankashi, Diroibam, Aideobari Premium, Muktabari, Rungliting Tea Estate, Narayanpur Panbarry, Durgapur, Tirual, Arin, Kathonibari, Friends Tea and Pabhojan participated. More than 93% of the total teas on offer got sold. Buyers had logged in from Assam, West Bengal, Delhi, Gujarat and Rajasthan.

Pabhojan Orthodox tea was sold at a record price of Rs 4,000 per kg. Diroibam Speciality Green tea was sold at Rs 1000 per kg, and the famous Hookhmol CTC tea fetched Rs 510 per kg – also record prices in their respective categories.

The event organised by mjunction elicited positive response from buyers and sellers alike. Mr Kamal Sharma and Mr Pradeep Sharma, Directors of Tea World who purchased Hookhmol CTC from the platform at Rs 510 per kg, said, “With shorter cycle time, teas sold on the mjunction platform is the freshest. We are pleased to have bagged Hookhmol. We have our own packet with brand name Shree Mangalam since 2002, and we are committed to give our customers best of Assam tea.”

Director of Real Assam Tea Industries, which supplied the Hookhmol CTC, Mr Bhaskar Hazarika, said, “I congratulate mjunction for successfully conducting the Special Tea Auction to celebrate International tea day. Tea estate companies are the only private sector enterprises that has survived in Assam for two centuries despite all hostilities. Assam tea estates have survived the nationalization bid, extreme regulation, Land Ceiling Act and agitations of all kind since 1947, but right now we are facing unprecedented challenges. The average price of tea in the primary market (auctions) has not increased from 2012 to 2019. We normally see few decent prices during the second flush period otherwise tea prices remain very low for the most part because all kinds of teas are blended and sold as cheap commodity in the secondary (retail) market. We are very hopeful and happy to see that mjunction is trying to bring small retailers into the market who are willing to sell best quality Assam tea in its true form and not as a cheap blend.”

Dr Nazrana Ahmed of Diroibam Tea Estate, whose Green Tea was sold at Rs 1,000 per kg, said, “Today’s special auction is of special significance to us, as we have received the highest bid for our Specialty Green Teas. We are happy with the professional approach of the mjunction team and the trust reposed on the platform by the buyers.”

Mr Nilesh Divekar of Shangrila Enterprise, who purchased Pabhojan Orthodox at Rs 4,000 per kg, said, “I appreciate the efforts of the mjunction team to provide such a platform where best of the teas are available fresh and in small quantities without any hassles.”

Mrs Rakhi Saikia of Pabhojan TE lauded mjunction’s efforts on the occasion. “I am very happy that Pabhojan has fetched a record price, and I hope the mjunction platform continues the good work,” she said.

For further information please contact:
Mahul Brahma
Head- Corp Comm & Branding
mjunction