In the light of recent developments caused by the Covid-19 pandemic, following consensus among the stakeholders of the tea industry and with the support of the Chairmen of the Sri Lanka Tea Board, the Colombo Tea Traders’ Association successfully concluded the weekly tea auction on March 18 and 19 at the Ceylon Chamber of Commerce.
It was however realized that continuing to assemble such a large number of buyers at a single location would be too great a risk. Since this situation was unlikely to resolve itself soon eventually it was determined that the most pragmatic solution was to conduct the auction, facilitated by a digital platform, over a period of four days, from April 4 to April 7.
This is a historic event, as it is the first time in 126 years that the tea auction deviated from it conventional “out-cry” system, requiring the physical presence of the buyers, to move into the electronic age, with buyers recording their bids from remote locations, circumventing the need to expose themselves to any serious health hazards.
The Ceylon Chamber of Commerce and the Colombo Tea Traders’ Association acknowledge with great pride the extraordinary feat achieved by the stakeholders of the industry, at such short notice, and extend their felicitation to all the members of the tea industry for their contribution, through their support and cooperation, to this ground-breaking initiative.
In the context of the Colombo Tea Auction, it is pertinent to make reference to the close association between the Ceylon Chamber of Commerce [CCC] and the Colombo Tea Traders’ Association [CTTA], engendered by its creation in its formal configuration, that commenced in 1894. In fact, it was the Chamber that inaugurated both these tea industry institutions in the same year, to facilitate the sale of tea in an orderly and efficient manner. Since then this relationship progressively strengthened, particularly on account of the fact that the auctions were held continuously within the office building of the Chamber.
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