Tea prices in Bangladesh rose at the weekly auction on Tuesday on strong demand for quality leaf, although sales dropped for the large quantity of poor grade supplies on offer, brokers said.
At the latest auction, Bangladeshi tea fetched an average of 198.43 taka ($2.55) per kg against 196.93 taka in the previous auction held on Jan. 15, an official from National Brokers Limited said.
“Buyers are ready to pay higher price for good quality tea, but higher supplies of poor grade tea pulled down overall sales volume,” the official said.
Nearly 2 million kg of tea was offered at the auction centre in Chittagong, with 28 percent remaining unsold. Around 1.87 million kg of tea was offered, and 16 percent went unsold at the previous auction.
The South Asian country produces 60 million kg of tea a year against demand of 56 million.
Following are the results of the latest auction. Figures in
Bangladesh taka per kg.
BROKENS
Bold/Large Brokens 170-178
Medium Brokens 185-192
Small Brokens 195-205
Plain Brokens 150-165
FANNINGS
Best Fannings 205-210
Good Fannings 199-204
Medium Fannings 190-195
Plain Fannings 150-165
DUST
Pekoe Dust Not quoted
Red Dust 165-246
Dust 170-219
Churamoni Dust 190-276
-Reuters.
