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Assam Chai Bazaar Launches New Public Tea Auction Platform

Assam Chai Bazaar has officially launched a public tea auction platform designed to streamline the tea selling process for producers in Assam. With a new website and a commitment to reducing transaction times, the initiative aims to address long-standing concerns about delays in tea sales. Promoted by key figures in the tea industry, the platform is expected to enhance efficiency and accessibility for tea producers, ultimately benefiting the entire sector. The establishment of warehouses in Dibrugarh and Guwahati further supports this goal, making it a significant development for Assam's tea industry.
 

Introduction of Assam Chai Bazaar

The Tea Board of India recently granted a licence to Assam Chai Bazaar LLP to operate the public tea auction platform in Upper Assam.

DIBRUGARH, Aug 14: A new public tea auction platform named Assam Chai Bazaar was inaugurated on Thursday, coinciding with the launch of its website, www.assamchaibazaar.com, during an event at the Gymkhana Club in Dibrugarh.


Purpose and Functionality

The website is designed to assist tea producers by minimizing transaction costs. The official launch was attended by Prashanta Borah, a factory advisory officer from the Tea Board of India. Recently, the Tea Board granted Assam Chai Bazaar LLP the license to manage this public auction platform in Upper Assam. Among the venture's promoters is Chand Kumar Gohain, who is also the president of the Assam Bought Leaf Tea Manufacturers’ Association (ABLTMA). Other partners include Deven Singh, Gautam Beria, Chandrajit Baruah, and Sumit Agarwalla, all prominent figures in the bought-leaf tea manufacturing sector.


The initiative aims to enhance the tea auction process, allowing sellers to complete transactions within a 25-day timeframe. The proposed system anticipates that tea sales will occur within 12 days, followed by payment to sellers within the next 13 days.


Addressing Producers' Concerns

Sumit Agarwalla highlighted that tea producers have long expressed concerns regarding delays in selling their manufactured tea. The prolonged process has been a significant issue, as it extends the overall time required for sales.


He noted that the Tea Board has formed several committees to investigate methods for expediting the process. "The concept behind Assam Chai Bazaar is to reduce the time taken to sell tea, as time is crucial in any business transaction. If a buyer receives tea after a month, it defeats the purpose," he explained.


Infrastructure and Impact

The promoters have established two warehouses in Dibrugarh, covering a total area of approximately 40,000 square feet, along with an additional 5,000-square-foot warehouse in Guwahati. They indicated that tea-producing regions within a 120 km radius, including nearby districts and parts of Arunachal Pradesh, contribute to nearly 55 percent of Assam’s tea production, marking a vital tea-producing area.


The new auction platform is anticipated to offer tea producers a more effective and accessible method for selling their products, thereby minimizing delays and reducing transaction costs.