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Bangladesh tea prices slip, supply of high quality leaf falls
January 29, 2013 / 1:57 PM / 5 years ago

Bangladesh tea prices slip, supply of high quality leaf falls

DHAKA, Jan 29 (Reuters) - Tea prices in Bangladesh slipped
at a weekly auction on Tuesday as supplies of high quality leaf
fell while sales volumes also dropped, brokers said.
    The average price of Bangladeshi tea fell to 282.53 taka
($3.6) per kg against 292.36 last week, an official at National
Brokers Limited said.
    Around 1.6 million kg of tea were offered at Bangladesh's
sole auction centre in Chittagong, with almost 26 percent
unsold, compared with 1.8 million kg offered with 12.75 percent
unsold in the previous auction.
    Prices cameome down mostly because of a larger volume of
end-of-season tea on offer, which tends to be of poor quality,
the National Brokers said in its market report.
    "Tea with fair cup quality witnessed a good demand although
sold at easier rates but plain poor varieties were heavily
discounted with heavy withdrawals," it said.
    Around 1.9 million kg will be offered at the next auction on
Feb. 5.
    Tea sold at the Chittagong auction is mostly bought by  
domestic buyers.  
    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 
per kg.        
 Bold/Large Brokens              Not quoted
 Medium Brokens                  270.00 - 280.00       
 Small Brokens                   280.00 - 290.00
 Plain Brokens                   190.00 - 210.00           
 Best Fannings                   295.00 - 305.00
 Good Fannings                   285.00 - 294.00         
 Medium Fannings                 270.00 - 280.00      
 Plain Fannings                  195.00 - 215.00      
 Pekoe Dust                      Not quoted  
 Red Dust                        287.00 - 336.00 
 Dust                            280.00 - 358.00
 Churamoni Dust                  250.00 - 352.00  

 (Reporting by Ruma Paul; Editing by Anthony Barker)

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