Now Reading: New tea auction platform Assam Chai Bazaar launched in Dibrugarh
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New tea auction platform Assam Chai Bazaar launched in Dibrugarh
New tea auction platform Assam Chai Bazaar launched in Dibrugarh
Assam Chai Bazaar, a new public tea auction platform, went live on Thursday with the launch of its website in Dibrugarh. Promoted by leading bought-leaf tea manufacturers, the platform promises to cut…
The Story in Brief
Assam Chai Bazaar, a new public tea auction platform, went live on Thursday with the launch of its website in Dibrugarh. Promoted by leading bought-leaf tea manufacturers, the platform promises to cut transaction costs and reduce the sale-to-payment cycle to 25 days, with tea sold within 12 days and sellers paid in the next 13. Two warehouses in Dibrugarh and one in Guwahati back the initiative. The Tea Board of India has licensed Assam Chai Bazaar LLP to operate in Upper Assam, a belt that produces nearly 55 per cent of the state's tea.
The Indian Opinion
The Assam Chai Bazaar launch is being presented as a cure-all for the tea industry's slow sale cycle, but similar promises have been made before without significant change. Tea Board committees have studied this problem for years. The real test will be whether buyers, especially large exporters, actually use the platform and pay within the promised 13 days. If the first quarter's auction volumes fall below expectations, the talk of transformation will ring hollow.
Source: assamtribune.com
This story was synthesised by AI from the source linked above.
