CTTA completes Colombo Tea Auction study with MTI

Monday, 20 August 2012 00:07 - - {{hitsCtrl.values.hits}}

The Colombo Tea Traders’ Association (CTTA), which manages the world’s premier and largest single origin tea auction in the world – the Colombo Tea Auction (CTA) – has completed a study with MTI Consulting, aimed at improving the process of the auction.

Addressing the CTTA Committee at the project presentation, Chairman of CTTA Jayantha Keragala said: “An average of six to eight million kilograms of tea are offered for sale at each auction and almost 95% of Sri Lanka’s tea production is marketed through the Colombo Auctions. MTI was mandated to study the overall efficiency and effectiveness of auction, which is currently considered to be the most transparently conducted tea auction in the world.”

He went to say that the MTI study had highlighted many areas of fundamental improvements, given the changing profile of the markets, customers and the human resources.

In 2010, MTI was also retained by the Sri Lanka Tea Board (SLTB) to develop a strategy for Ceylon Tea, where the global tea market was evaluated, challenges assessed and strategies proposed in liaison with the key stakeholders in Sri Lanka’s tea industry, to complete the assignment for the SLTB.

“It is a privilege for MTI to continue to be involved in Sri Lanka’s key and renowned export industry, which is critical to our national economy,” said Hilmy Cader, CEO of MTI.

MTI Consulting is a boutique management consultancy with operations in Bahrain, Bangladesh, Dubai, India, Malaysia, Pakistan, Sri Lanka and alliances internationally. Since MTI’s inception in 1997, MTI has worked on over 400 client-specific projects in 40 countries across five continents.

The CTTA is the apex body of the industry and has representation of all stakeholder associations in its committee.