PERFORMANCE OF TEASERVE
TEASERVE – The World’s first Electronic Tea Auction Centre
In acceding to the representation made by the Small Tea Growers of the Nilgiris District, the Government have accorded permission for setting up of an Electronic Tea Auction Centre vide G.O. MS No.36, Small Industries Department, dated 17.07.2002. Accordingly the new Tea Auction Centre under Cooperative sector in the name of “TEA MANUFACTURERS’ SERVICE INDUSTRIAL COOPERATIVE SOCIETY LIMITED, shortly called as “”TEASERVE” was Registered on 28.08.2002 and started on 13.09.2002 at Coonoor in the Nilgiris District. The TEASERVE commenced its Electronic Auction proceedings with effect from 01.10.2003.
TEASERVE – A Cooperative Federation of Small Tea Growers
As the entire Auction proceedings of the TEASERVE are computerized, the exploitation of middleman is avoided and the registered buyers alone could participate in the electronic auction proceedings.
Membership and Share Capital
The TEASERVE have 173 Seller Members on its roll with a paid up share capital of Rs.45.45 Lakhs, which includes the Government Share Participation of Rs.5.00 Lakhs.
Vision Of Teaserve
To become premier Institution in tea industry and preparing all bough leaf factories to withstand stiff competitive market by disseminating market intelligence and promoting tea as a health drink for safeguarding the interest of small tea growers in the Nilgiris District.
Mission Of Teaserve
To Establish various necessary price discovery mechanism to ensure reasonable and remunerative prices to Tea Manufacturers and small tea growers in the Nilgiris District by improving quality of tea and maintaining stability to avoid speculation in the prices of tea.