Browse Category

Commodity

Tea prices plunge again on poor quality

Tea prices in Bangladesh plunged for a sixth straight week at a weekly auction on Tuesday, because of larger supplies of end-of-season inferior quality leaf, brokers said. Bangladeshi tea fetched an average of 125.85 taka ($1.6) per kg at the auction, sharply down from 144.19 taka in the previous week's sale, said an official from National Brokers Limited. teaMore than 2.7 million kg was offered at the auction centre in Chittagong, with nearly 54 percent remaining unsold. At the previous auctio...

Gold hits six-month high

Gold rose to a six-month high on Friday as investors turned to bullion as a safe-haven from East-West tensions before a vote planned for Sunday on whether Ukraine’s Crimea region should join Russia. Moscow shipped more troops and armour into Crimea on Friday and repeated its threat to invade other parts of Ukraine, showing no sign of heeding Western pleas to back off from a Cold War-style confrontation. gold Russia’s stock markets tumbled and the cost of insuring its debt soared on the last day of trading before pro-Moscow authorities in Crimea hold a referendum on joining Russia,...

Tea prices dip again on poor quality

Tea prices in Bangladesh plunged for a seventh straight week at a weekly auction on Tuesday, dragged down by end-of-season leaf that tends to be of poor quality, brokers said. Bangladeshi tea fetched an average of 144.19 taka ($1.85) per kg at the auction, down from 146.71 taka in the previous week's sale, when prices fell 6.5 percent, said an official from National Brokers Limited. teaMore than 2.68 million kg was offered at the auction centre in Chittagong, with nearly 50 percent remaining un...

Two more tea auctions this season

Bangladesh will hold two additional tea auctions, extending the season by two weeks, as a large volume of tea remains unsold due to poor quality and a supply glut, brokers said on Thursday. The last auction of the season will now be held on April 15, an official of the National Brokers Limited said after a meeting with the Bangladesh Tea Board. teaIn the latest auction on Wednesday, tea prices fell for a sixth straight week, dragged down by end-of-season leaf that tends to be of poor quality. ...

Hilsa ban not lifted soon

The government has no immediate plans to lift the ban imposed in 2012 on the export of hilsa to ensure a smooth supply of the silver delicacy in local markets. "How much we get from export of hilsa fish? We do not have any immediate plan to resume hilsa export," state-run BSS news agency quoted Commerce Minister Tofail Ahmed as saying. hilsaHe said the ban on the fish, declared the National Fish of Bangladesh upon the country gaining independence in 1971, was needed to ensure supply to local markets and check its pr...

Govt to buy more rice locally to boost reserves

The government  will buy more rice locally in an effort to replenish reserves while it has no plan to import the grain this year, the head of the state grains buyer said on Wednesday. Such procurement is crucial for the South Asian nation to feed its poor and keep domestic prices stable at a time when government reserves are at five-year lows. "We are buying 400,000 tonnes of rice from local farmers this harvesting season, double from the earlier purchase target," Ahmed Hossain Khan of the Directorate General of Food, the state grains buyer, said.
Verified by MonsterInsights