March 7, 2018 / 3:57 AM / 4 months ago

Bangladesh tea prices fall on inferior quality leaf

    DHAKA, March 7 (Reuters) - Tea prices in Bangladesh fell at
a weekly auction, dragged down by poor quality leaf, although
the total volume offered for sale this week was lower than at
the previous auction.
    Bangladeshi tea fetched an average price of 184.12 taka
($2.80) per kg at the auction held on Tuesday, compared with a
revised price of 187.13 taka in the previous sale, National
Brokers said.
    Buyers showed little interest in the end-of-season leaf that
usually tends to be of inferior quality, at the penultimate
auction of the current marketing season, said a senior executive
at National Brokers.
    About 1.5 percent of the 1.19 million kg offered at the sole
auction centre in Chittagong was unsold, compared with 11
percent unsold of the 2.09 million kg offered at the previous
auction.
    Bangladesh's tea production jumped nearly 27 percent in 2016
to a record 85 million kg, helped by favourable weather, making
imports a choice rather than a necessity.             
    The South Asian country was the world's fifth-largest tea
exporter in the 1990s but is now a net importer because of a
surge in domestic consumption in line with economic growth.
    
    Following are the results of the latest auction (figures in
Bangladesh taka per kg):

BROKENS
Bold/Large Brokens                   not quoted 
Medium Brokens                       175-185
Small Brokens                        175-190
Plain Brokens                        165-175
    
FANNINGS
Best Fannings                        212-220
Good Fannings                        200-210
Medium Fannings                      185-190
Plain Fannings                       165-175

DUST
Pekoe Dust                           not quoted
Red Dust                             165-238
Dust                                 165-242
Churamoni Dust                       189-278

 (Reporting by Ruma Paul; Editing by Biju Dwarakanath)
  
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