COLOMBO (EconomyNext) – Sri Lanka’s tea trade has revived the idea of automating the more-than-century-old Colombo tea auctions, a senior official said.
“It has been decided to revisit the prospect of the automation of the Colombo tea auction,” Anselm Perera, chairman of the Colombo Tea Traders Association (CTTA), said.
A committee of stakeholders has been set up to study the development of an integrated computer system for the automation of the pre- and post-auction procedures of the Colombo tea auction, he told the CTTA’s annual general meeting.
A Colombo University information technology consultant has been hired for the work.
The CTTA has been running the Colombo tea auction since 1894 although the first public sale of tea in the island took place in 1883 in the offices of a broking company.
The tea trade has previously considered automating the auctions and commissioned studies on the issues but the idea was abandoned almost 10 years ago.