Dibrugarh: Assam Chai Bazaar, a new public tea auction platform aimed at facilitating tea producers and reducing transaction costs, officially launched its website on Thursday at a function held at the Gymkhana Club in Dibrugarh.
The official website, www.assamchaibazaar.com, was launched in the presence of Prashanta Borah, FAO, Tea Board of India.
Assam accounts for around 65 per cent of India’s total tea production, making the state’s tea industry a vital contributor to the country’s tea sector. Tea producers have long been seeking a public auction platform that can reduce transaction costs and minimise the time involved in the sale and payment process.
To address these concerns, the Tea Board of India has granted a licence to ASSAM CHAI BAZAAR LLP to organise public tea auctions.
The venture has been promoted by Chand Kr Gohain, Deven Singh, Gautam Beria, Chandrajit Baruah and Sumit Agarwalla.
According to the promoters, the initiative is aimed at streamlining the tea auction process and enabling sellers to complete the entire transaction cycle within 25 days. Under the proposed system, tea is expected to be sold within 12 days, with payment to sellers completed within the subsequent 13 days.
The promoters have also made arrangements for two warehouses with a combined area of around 40,000 square feet in Dibrugarh, besides another 5,000-square-foot warehouse in Guwahati.
They stated that tea-producing areas within a radius of around 120 km, including adjoining districts and parts of Arunachal Pradesh, account for nearly 55 per cent of Assam’s tea production, representing a significant tea-producing belt.
The promoters said the new auction platform is expected to provide tea producers with a more efficient and accessible mechanism for selling their produce while reducing delays and associated transaction costs.
The initiative is also expected to strengthen tea-trading infrastructure in Dibrugarh and contribute to the development of the city as an important commercial hub in Assam’s tea economy.