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Bangladesh tea prices and sales down ahead of elections
December 31, 2013 / 12:47 PM / 4 years ago

Bangladesh tea prices and sales down ahead of elections

DHAKA, Dec 31 (Reuters) - Tea prices in Bangladesh fell and
sales dipped at a weekly auction on Tuesday ahead of elections
on Jan. 5 which the main opposition has boycotted.
    At the latest auction, Bangladeshi tea fetched an average of
191.64 taka ($2.50) per kg against 193.98 taka in the previous
auction held on Dec. 24, an official from National Brokers Ltd
said.
    Nearly 2 million kg of tea was offered at the auction centre
in Chittagong, with 27 percent remaining unsold. Almost the same
volume was offered and 11 percent went unsold at the previous
auction.
    Rolling violent protests, shutdowns and transport blockades
staged by the opposition to thwart the elections have crippled
economic activity and forced the postponement of the tea auction
on Dec. 3. 
    The South Asian country produces 60 million kg of tea a year
against demand of 56 million. 

 (Reporting by Ruma Paul; Editing by Anthony Barker)

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