Auctions of Darjeeling tea move online
This year will mark the end of private auctions where one of the most famous and prized teas in the world is auctioned to select buyers from around the world. For decades, large buyers, especially from the US, Europe and Japan, would participate in weekly private auctions in one of seven major auction centers across India. While other grades of Indian teas have already been trading on e-auctions for several years, Darjeeling teas, which can see large swings in prices during the bidding process, have thus far been exempt. Growers hope that opening the market up to more buyers and introducing more transparency will result in higher prices. Auctions across India offer around 2.8 million kilograms of Darjeeling tea per year with prices varying from $8 to $1,800 per kilogram.