DHAKA, July 24 Tea prices in Bangladesh fell at
a weekly auction on Tuesday for the third week in succession due
to low levels of demand from local buyers amid the Muslim
fasting month of Ramadan, brokers said.
The average price of Bangladeshi tea was 234.23 taka ($3.6)
per kg against 237.21 taka in the previous auction, an official
at National Brokers Limited said.
More than 1.6 million kg of tea was offered at Chittagong,
with 19 percent remaining unsold, compared with around 1.2
million kg offered and 30 percent unsold at the previous acution
held on July 9.
"Prices dropped again this week as demand is not good during
the Muslim fasting month of Ramadan," the official said.
Consumption of tea is typically low during Ramadan, which
started earlier this month.
The auction was delayed by a week due to general strikes.
The south Asian country produces 60 million kg of tea a year
against a demand of 56 million kg. Tea consumption is rising by
4.5 percent annually, in line with steady economic growth.
Following are the results of the latest auction. Figures in
Bangladesh taka per kg.
Bold/Large Brokens 232-235
Medium Brokens 232-237
Small Brokens 234-240
Plain Brokens 210-220
Best Fannings 234-238
Good Fannings 230-233
Medium Fannings 225-229
Plain Fannings 210-220
Pekoe Dust Not quoted
Red Dust 215-260
Churamoni Dust 240-302
(Reporting by Ruma Paul; Editing by Jijo Jacob)