7:10 PM
Tea prices in Bangladesh edged higher at the weekly auction on Tuesday amid strong demand for quality grade despite higher supplies.
Bangladeshi tea fetched an average 191.54 taka ($2.44) per kg at the 32nd auction of the current marketing season, compared with 191.17 taka in the previous sale, an executive with National Brokers said.
About 2.03 million kg were offered at the sole auction centre in Chittagong, of which 15.53 percent went unsold. In the previous auction, about 11.48 percent of the 2.01 million kg offered was unsold.
There was strong demand from local buyers for quality tea, the executive said.
The national budget for the 2015/16 fiscal year that started in July raised the regulatory duty on tea imports by 5 percent to discourage overseas buying.
Tea prices fell sharply in the last marketing season on poor demand from local buyers, as business sentiment was hit by renewed political unrest early this year that left more than 120 people dead and disrupted supplies.
The country has moved from being a net exporter to a net importer of tea due to rising consumption.
Following are the results of the latest auction (figures in
Bangladesh taka per kg):
BROKENS
Bold/Large Brokens 182-187
Medium Brokens 186-192
Small Brokens 190-195
Plain Brokens 150-170
FANNINGS
Best Fannings 196-200
Good Fannings 193-195
Medium Fannings 188-191
Plain Fannings 150-170
DUST
Pekoe Dust 182-195
Red Dust 185-218
Dust 185-224
Churamoni Dust 185-220
($1 = 77.7300 taka)
Prothom alo
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