Despite huge stock of unsold hair, the prices remain unchanged
Tirumala Tirupati Devasthanams expects Rs 220 crore from hair sale
Tirupati: The Tirumala Tirupati Devasthanams, which set itself a target of '220 crore from the sale of human hair for 2014-15, is gearing up for global auction of stock piles on December 24.
The TTD for the financial year 2014-15 had approved its annual Budget to the tune of Rs 2,401 crore with a major chunk of the revenue expected from the ‘Hundi collections’ estimated to be around Rs 900 crore.
The TTD expects to reap rich dividends through the sale of human hair to the tune of RS 220 crores. Looking back at the revenues through sale of human hair in the last five years, it is found that the TTD netted revenue of RS 96 crore in 2009-10, Rs 98.7 crore in 2010-11, RS 163.16 crore in 2011-12, Rs 205.63 crore in 2012-13 and RS 239.68 crore in 2013-14.
In the two auctions held this financial year, the TTD placed 1.14 lakh kg of various varieties of human hair for auction in May through the MSTC e-auction platform. Only 33,400 kg were sold, while 80,600 kg remained unsold. The TTD netted revenue of Rs 41.10 crore then. And in the e-auctions held in September, of the 2,08,700 kg placed for auction, only 46,800 kg were bid, while stocks to the extent of 1,61,900 kg remained unsold.
In September, the TTD netted revenue of Rs 63.98 crore through the sale of human hair. While the TTD has just reached the half way mark by netting an income of Rs 105.08 crore in the last two e-auctions held, the TTD officials are going for the e-auction again on December 24.
According to official sources, 2,34,615 kg stocks of various varieties of human hair including grey hair are available with the TTD as on October 31, which are to be put to auction. Not perturbed with the quantum of unsold stocks in the last two e-auctions, the TTD officials haven’t altered the prices of the stocks much.
Minting money: Rates of hair in the Global auction on December 24
1. First variety (31'' and above) - Rs 25,560 per kg
2. Second variety (16''-30'' approx) - Rs 18,856 per kg
3. Third variety (10''-15'' approx) - Rs 6,501 per kg
4. Fourth variety (5''-9'' approx) - Rs 5,457 per kg
5. Fifth variety (Below 5'') - Rs 37 per kg
6. Grey hair - Rs 9,425 per kg
( Source : dc correspondent )
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