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Bangladesh tea prices fall, but demand for quality leaf caps slide
August 12, 2015 / 7:48 AM / 2 years ago

Bangladesh tea prices fall, but demand for quality leaf caps slide

Aug 12 (Reuters) - Tea prices in Bangladesh fell for a
fourth straight session at the weekly auction on Tuesday as
volumes hit the highest in the season so far, but demand for
quality leaf capped the slide.
    Bangladeshi tea fetched an average 192.10 taka ($2.5) per kg
at the 14th auction of the current marketing season, down from
194.35 taka at the previous sale last week, an executive with
National Brokers said.
    There was strong demand for quality tea that limited the
fall in prices and sales were higher despite the latest offering
being the largest of the season so far, the executive said.
    About 1.82 million kg were offered at the sole auction
centre in Chittagong, of which 6 percent was unsold. In the
previous auction, about 6 percent of the 1.78 million kg offered
went unsold.
    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 because of the damage to business
sentiment caused by renewed political unrest early this year
that left more than 120 people dead and disrupted supplies.
    The country, however, has moved from being a net exporter to
a net importer of tea because of rising consumption. 
    Following are the results of the latest auction (figures in
Bangladesh taka per kg):

 Bold/Large Brokens                   188-192
 Medium Brokens                       191-195
 Small Brokens                        192-195
 Plain Brokens                        175-183

 Best Fannings                        193-196
 Good Fannings                        191-193
 Medium Fannings                      188-190
 Plain Fannings                       180-185

 Pekoe Dust                           not quoted
 Red Dust                             167-208
 Dust                                 175-216
 Churamoni Dust                       170-226

 (Reporting by Ruma Paul in Dhaka; Editing by Biju Dwarakanath)

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