4:14 pm - Sunday February 27, 7938

Tea prices snap 9-weeks losing streak

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.

tea

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.

BROKENS

Bold/Large Brokens              100-110

Medium Brokens                    100-115

Small Brokens                         100-120

Plain Brokens                          40-65

FANNINGS

Best Fannings                            175-195

Good Fannings                         130-150

Medium Fannings                   100-110

Plain Fannings                          40-60

DUST

Pekoe Dust                                  Not quoted

Red Dust                                       80-166

Dust                                                80-210

Churamoni Dust                        80-290

 

– Reuters.


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