August 27, 2013 / 2:42 PM / in 4 years

Bangladesh tea prices dip for third week, sales drop

DHAKA, Aug 27 (Reuters) - Tea prices in Bangladesh extended
losses for the third week at a weekly auction on Tuesday on weak
demand from local buyers, brokers said.
    The average price of Bangladeshi tea fell 7.6 percent to
218.65 taka ($2.8) this week from the previous auction, an
official of National Brokers Limited said. 
    More than 1.93 million kg of tea was offered at Bangladesh's
sole auction centre in Chittagong, with almost 19 percent
remaining unsold, compared with around 1.9 million kg offered
and 16 percent unsold at the previous one. 
    "Prices fell by a fair margin as buyers were holding lower
limits," National Brokers said in its market report.
    The south Asian country produces 60 million kg of tea a year
against domestic demand of 56 million kg. Tea consumption is
rising 4.5 percent annually, in line with steady economic
growth. 
    
    Following are the results of the latest auction. Figures in
Bangladesh taka per kg.          
                                  
  BROKENS          
 Bold/Large Brokens              210-217 
 Medium Brokens                  212-218         
 Small Brokens                   215-220  
 Plain Brokens                   190-200            
  FANNINGS          
 Best Fannings                   217-221  
 Good Fannings                   213-216           
 Medium Fannings                 210-212        
 Plain Fannings                  185-195        
  DUST             
 Pekoe Dust                      Not quoted   
 Red Dust                        205-245   
 Dust                            210-250  
 Churamoni Dust                  220-309  
    

 (Reporting by Ruma Paul; Editing by Louise Heavens)

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