Bangladeshi tea fetched an average of 118.81 taka ($1.50) per kg at the auction, up from 109.66 taka at the previous week’s sale, when prices fell around 20 percent, an official from National Brokers Limited said.
More than 2 million kg was offered at the auction centre in Chittagong, and almost 60 percent remained unsold. At the previous auction, 2.4 million kg was offered, of which nearly 62 percent went unsold.
“There was good demand for quality tea, which is in short supply,” the official said.
Buyers were reluctant to buy end-of-season tea that tends to be of poor quality, he added.
The auction season, typically to end-March, has been extended through April.
Bangladeshi buyers have imported tea in bulk from neighbouring India, contributing to a glut in the domestic market and reducing demand at the auction, industry sources said.
Following are the results of the latest auction. Figures are in Bangladesh taka per kg.
Bold/Large Brokens 100-110
Medium Brokens 100-115
Small Brokens 100-120
Plain Brokens 40-65
Best Fannings 175-195
Good Fannings 130-150
Medium Fannings 100-110
Plain Fannings 40-60
Pekoe Dust Not quoted
Red Dust 80-166
Churamoni Dust 80-290