Tea Board to launch Japanese public sale version

Tea Board to launch Japanese public sale version

by admin- Wednesday, July 22nd, 2020 08:17:44 AM

The Tea Board has determined to release the Japanese public sale model as a pilot task on the Coonoor Tea Trade Association’s auction centre.

“It may be rolled out in different centres quickly after the pilot run in Coonoor”, Tea Board Executive Director, M Balaji, said.

The Japanese version has been suggested by way of the Indian Institute of Management Bangalore (IIMB) to whom the Tea Board had assigned the mission reforming the existing e-auction platform to enhance the participation of customers inside the pan-India public sale and to in addition enhance the present gadget for better fee realisation.

IIMB has submitted its recommendations on the operational, technological and regulatory issues.

Better rate realisation
“The Tea Board has, in precept, commonplace the recommendations of the IIMB to recast the prevailing pan-India e-public sale gadget”, Balaji announced.

“The new system targets at improving price realisation, simplifying the process which ends up in improvement in pleasant of tea presented in public auctions and thereby making sure higher charge discovery”, he stated.

Explaining the new public sale gadget, he said, “The public sale fee is integrated with time, offering bendy buying and selling options and might be simple to manage and take part in public sale. Buyers and dealers can participate in a transparent way. The out masses will be minimised and the product, based on the nice and call for, will fetch higher rate”.

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