A tea broker is a tea producer and buyer intermediary. Brokers must have a well-skilled team who are fully qualified to produce tea by taste, report, and auction. Tea brokers always maintain adequate staff to handle tea sampling, finance, trucking, VAT, administration, and distribution.
Tea brokers operate under the rules of tea law in all countries. There are many tea brokers in the world today. Tea brokers handle an estimated 35 to 55 million kg of tea weekly.
African Tea Brokers represents tea producers from Kenya, Uganda, Tanzania, Rwanda, Burundi, Malawi, Congo, Zanzibar, Zimbabwe, Mozambique, and Seychelles. Brokers are responsible for managing all of these producers at the Mombasa Tea Auction. Brokers are the main guardians of the tea auction formation process.
Meanwhile, India Tea Brokers in Kolkata, Siliguri, Assam, operates the tea at the designated auction center. They provide all the marketing work for the tea.
There are many tea brokers in Bangladesh, they auction tea in Chittagong, Srimangal, and the new auction center Panchagarh in Bangladesh. Information In Tea Board Chairman– Wikipedia
Although Sri Lankan tea brokers are known as Ceylon, there are many tea brokers in the country who conduct tea auctions produced in Sri Lanka.
You have already read the auction history of tea which is now auctioned with a complete variation. Tea auctions are now conducted through online auctions. There are many benefits of online auctions, on the one hand, tea from all countries is available for auction on such a platform, and on the other hand, you can manage all types of tea bids from your own office. The “Global Tea Auction” platform is coming up with such regular auctions. Which is a joint venture between Indigo Brokers Limited and Rabnal Global Limited.
What do tea brokers do?
A tea broker does the following: –
- A tea broker ensures that the teas obtained from the produced tea warehouses maintain their integrity so that they do not have to compromise on their suitability for the sale of tea
- Obtaining instructions from the tea factory to sell tea at specific sales, the full details which are displayed in the broker’s catalog
- Collaborate with the tea warehouses responsible for the tea of the producers to add specific details of each tea proposed for sale of tea and publish these details in the sales catalogs of the tea brokers
- Taking a representative sample of each tea in the tea offer from the tea producer, and ensuring that a small portion of that sample is provided for the purpose of evaluating the taste and potential of all buyers. After the tea auction, the tea purchase samples are again distributed to all the buyers
- Prepare and distribute sales catalogs for use by tea members in pre-auction and post-auction processes
- Tea tasting, quality evaluation, and forwarding reports to weekly producers. Of course, reports are now available online every day
- Understanding the tea market through extensive consultation with tea producers and tea buyers to appreciate the supply and demand position of both parties and to reach the expected market behavior estimates. Additional knowledge is gained through research on local and international news related to tea and by placing local and international regulatory initiatives that affect the sector
- Consulting tea growers and visiting tea factories two to three times a year to better understand and provide constructive advice on the challenges that hinder quality tea production at both the tea factory and tea farm level. Tea factory trips usually involve a tea buyer’s company at the expense of a tea broker. Assist tea buyer farmers and manager factory supervisors in training on market quality requirements. The tea broker consults with both the producer and the buyer in order to acquire knowledge that can be passed from one side to the other. A tea broker can use his knowledge to ensure an acceptable quality of tea and thereby maintain the loyalty of the tea buyer and improve the value obtained
- Tea marketing: The constant interaction of the tea broker with the tea buyers enables him to understand the needs of the tea market which he sends to the tea producers for supply
- Tea Auctions: Selling tea, conducting efficient tea auctions based on conventional market power and thorough knowledge of the mindset of tea buyers. This critical skill enables a tea broker to conduct tea sales in a controlled and highly competitive setting with the goal of selling large quantities of tea to tea buyers at the highest possible market price. Tea buyers need the ability to make the right immediate decision under the pressure of accepting or rejecting a bids
- Prepare informative market reports for various contexts such as Tea Post Auction, Tea Finance, Tea Statistics, and Tea Stakeholders
- Timely payment of sales proceeds by buyers through all banking systems or tea broker accounts and monitoring of remittances to producers
- Resolve any dispute between a tea producer and tea buyer regarding quality change and payment etc. through the meeting
Percentage in the form of a commission based on the value earned by a tea broker. So getting the highest possible price would be in the best interest of the tea broker. The commission is 0.75% to 01% of the price of tea sold by a producer and 0.5% to 17% of the price of tea bought by a buyer. It is worth noting that the producer paid a lot of fees ranging from 3.3 USD to 4.45 USD to cover the cost of sampling and cataloging. It is now offering a tea broker as a greeting to the producer.
Benefits of online tea auction
The subject you read above is just a daily catalog of an analog tea broker. But you will be happy to know that like all current businesses, tea auctions are done digitally. The online tea auction system has already become popular in the world market. Now almost every country has launched an online tea auction system. Which country has succeeded in the online auction of tea and which country has failed? Those who failed the online tea auction could not manage the online auction in the right system. You can see the benefits of digital tea auctions by reading the following article:
- Tea Catalog: There is no tea catalog system in online tea auctions. When the tea brokers and tea factories offer their tea, they add the catalog
- Tea auction of your choice: You can bid on your favorite tea online while sitting in your office. You will receive notifications if your bids are exceeded. Then do the bids again. And if you win by bidding, you will get mail. Then you can contact the tea broker and get the full tea delivery
- Tea of any country together: You will find tea from all countries here, tea from all countries of the world is offered here. If you are a registered buyer, you will receive automatic mail when you upload tea for auction, you can start bidding if you like tea
- Save money: You can visit any country to buy tea at auction, or hire a tea exporter from that country. But you don’t have to do anything if you auction here. You can do an auction sitting in the office
- Time-Saving: Time is of the essence for a trader. You do not have to spend any time auctioning tea online. If you just have a mobile or laptop in hand, you can store tea by auctioning online
- Tea Taste Reports: When you see a tea lot displayed for auction, you will find all the tea testing reports along with the pictures of tea in the description. Which makes a skilled tea tester report. There you will see the identity of the tea taster
- Advantages of Tea Brokers: Here a Tea Broker will be able to upload their offered tea at any time. For which only 1 kg of tea will cost in each auction.
Find all the tea buyers in the world: Visit all the reputable tea packers, tea buyers, and tea wholesalers in the world at the Global Tea Auction, so your tea will be sold versatile and from one place you can auction your produced tea for tea buyers in all countries.
The global tea auction is being conducted mainly for the expansion of the tea business and for the benefit of all those involved in tea. Global Tea Auction is working for all countries and buyers. This expectation will always remain as the concerned country cooperates in all aspects of tea law.