On 27 December 1861, India witnessed its inaugural tea auction in Kolkata, marking a significant milestone in the nation's tea industry. This historic event was orchestrated by R. Thomas & Company, general brokers, and conducted by the firm Mackenzie Lyall at No. 2, Mission Row.
The success of this initial auction paved the way for subsequent sales. A second auction took place on 19 February 1862, managed by W. Moran & Co. at No. 5, Bankshall Street. Shortly thereafter, on 25 February 1862, a third auction was held at the Old Mint Mart, where 751 chests of tea were sold by W. Moran & Co. on behalf of the Assam Tea Company and Jorehaut Tea Company.
These early auctions were instrumental in establishing a structured marketplace for tea, facilitating transparent pricing and efficient distribution. The growing significance of tea auctions led to the formation of the Calcutta Tea Traders Association on September 15, 1886, with the objective of promoting the common interests of sellers, buyers, and brokers in the Kolkata market. Initially comprising 41 members, some of whom remain prominent in the tea trade today, the association played a pivotal role in formalizing auction processes and standards.
Over time, Kolkata evolved into a central hub for tea auctions, with venues like Nilhat House on R.N. Mukherjee Road becoming synonymous with the trade. Established traditions and practices at these auction houses have significantly contributed to India's emergence as one of the world's leading tea producers and exporters.
The legacy of these early auctions endures, reflecting the rich history and enduring importance of tea in India's cultural and economic landscape.
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