DHAKA Jan 22 Tea prices in Bangladesh rose at a
weekly auction on Tuesday on strong demand from local buyers
while sales volume also went up despite higher offerings,
Tea prices slipped 2 percent in the previous two auctions,
snapping around 40 percent gain over the last eight sessions.
The average price of Bangladeshi tea rose to 292.36 taka
($3.6) per kilogramme against 287.18 last week, an official at
National Brokers Limited said.
Around 1.8 million kg of tea were offered at Bangladesh's
sole auction centre in Chittagong, with 12.75 percent unsold,
compared with 1.58 million kg offered with 17.52 percent unsold
in the previous auction.
"Considering the time of the year, there were some useful
tea on offer which were strongly competed for by the blenders
resulting in further appreciation in price for these types," the
National Brokers said in its market report.
Other varieties also sold well in line with quality, it
Around 1.6 million kg will be offered at the next auction on
Tea sold at the Chittagong auction is mostly bought by
Last January, Bangladesh's tax authority imposed a 25
percent duty on tea imports to safeguard the local industry.
The south Asian country produces 60 million kg of tea a year
against demand of 56 million. Tea consumption is rising by 4.5
percent annually, in line with steady economic growth.
Following are the results of the auction in Bangladesh taka
Bold/Large Brokens Not quoted
Medium Brokens 282.00 - 287.00
Small Brokens 290.00 - 300.00
Plain Brokens 200.00 - 220.00
Best Fannings 300.00 - 310.00
Good Fannings 295.00 - 299.00
Medium Fannings 285.00 - 290.00
Plain Fannings 220.00 - 230.00
Pekoe Dust Not quoted
Red Dust 280.00 - 335.00
Dust 290.00 - 341.00
Churamoni Dust 250.00 - 336.00
(Reporting by Ruma Paul; editing by James Jukwey)