Tea market's going digital

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	Tea market's going digital

Maureen Farrell

4-22-2008 12:21 PM

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Maureen Farrell says:

yet another trading market moves into the digital realm - this time tea.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/a446479d-2e17-45e6-8705-aec51fe98e5e/0BF4B40D-991B-4968-941F-839AFD43F13C/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2008/04/22/business/worldbusiness/22tea.html?_r=1&ref=business&oref=slogin" href="http://www.nytimes.com/2008/04/22/business/worldbusiness/22tea.html?_r=1&ref=business&oref=slogin" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/04/22/business/worldbusiness/22tea.html?_r=1&ref=business&oref=slogin"><P>GUWAHATI, India — Traders crowd around wooden desks in a huge dusty auditorium, poring over thick catalogs describing chests of tea. A broker seated at the front of the room calls out prices in a quick, rolling cadence as the traders shout and gesture, signaling their bids. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/04/22/business/worldbusiness/22tea.html?_r=1&ref=business&oref=slogin"><P> A sharp rap of the gavel closes each sale, and the process starts over — under the market’s rules, the auctioneer must sell at least three lots in a minute.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/04/22/business/worldbusiness/22tea.html?_r=1&ref=business&oref=slogin"><P>Tea has been traded this way in India since 1861. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/04/22/business/worldbusiness/22tea.html?_r=1&ref=business&oref=slogin"><P>But this year, the cacophony of the public tea auctions will give way to the gentle tapping of keyboards: India’s tea markets are going digital. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/04/22/business/worldbusiness/22tea.html?_r=1&ref=business&oref=slogin"> Just as electronic trading rocked the floors of the <A title="More articles about the New York Stock Exchange." href="http://topics.nytimes.com/top/reference/timestopics/organizations/n/new_york_stock_exchange/index.html?inline=nyt-org">New York Stock Exchange</A> and the <A title="More articles about Chicago Mercantile Exchange" href="http://topics.nytimes.com/top/reference/timestopics/organizations/c/chicago_mercantile_exchange/index.html?inline=nyt-org">Chicago Mercantile Exchange</A>, the move to computerized auctions promises to turn the tradition-bound world of tea traders upside down. </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/0BF4B40D-991B-4968-941F-839AFD43F13C/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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