Tea prices rally for second week on fresh leaf

May 13 Tea prices in Bangladesh rose for a second straight week at Tuesday’s weekly auction as fresh leaf arrived at the beginning of the new marketing season, brokers said.

Tea prices dropped sharply in the last marketing season on tepid demand from local buyers because of the damage to business sentiment caused by the renewed political unrest early this year that left more than 120 people dead and disrupted supplies.

Buyers were active as the political violence eased and fresh leaf arrived, said an executive with National Brokers Ltd.

Bangladeshi tea fetched an average 210.88 taka ($2.6) per kg at the auction on Tuesday, the second of the new marketing season, compared with 206.06 taka at the previous sale, he said.

About 845,750 kg was offered at the sole auction centre in Chittagong, of which nearly 3 percent remained unsold. In the previous auction, about 5 percent of 922,500 kg was unsold.

Following are the results of the latest auction. Figures are in Bangladesh taka per kg.

BROKENS

Bold/Large Brokens             207-215

Medium Brokens                  205-212

Small Brokens                       190-200

Plain Brokens                         165-175

FANNINGS

Best Fannings                        207-213

Good Fannings                       202-205

Medium Fannings                 195-200

Plain Fannings                       175-185

DUST

Pekoe Dust                           not quoted

Red Dust                                  190-249

Dust                                          195-245

Churamoni Dust                     215-290

-Reuetrs