June 6, 2018 / 8:45 AM / a year ago

Bangladesh tea prices rise for fourth week

    DHAKA, June 6 (Reuters) - Tea prices in Bangladesh rose at
the weekly auction for the fourth time in a row on strong demand
for quality leaf, while sales rose despite higher volume on
    Bangladeshi tea fetched an average of 238.34 taka ($2.7) per
kg at the auction centre in the port city of Chittagong on
Tuesday, compared with 229.59 taka at the previous sale.
    There was strong demand for quality tea and buyers were
ready to pay premiums that perked up prices, while sales rose
even though supplies were greater than last week, an official at
National Brokers said.
    Only 0.6 percent of the 1.54 million kg offered in the
auction was left unsold. At the previous auction, around 1.13
million kg was offered, of which 1 percent went unsold.
    Bangladesh's tea production dropped to nearly 79 million kg
in 2017 from a record 85 million kg the previous year, which
officials attributed to excessive rainfall.
    The South Asian country was the world's fifth-largest tea
exporter in the 1990s, but is now a net importer as the surge in
domestic consumption is in line with economic growth.
    Following are the results of the latest auction (figures in
Bangladesh taka per kg):

Bold/Large Brokens                   not quoted 
Medium Brokens                       225-235
Small Brokens                        228-240
Plain Brokens                        190-210
Best Fannings                        241-248
Good Fannings                        230-240
Medium Fannings                      229-230
Plain Fannings                       195-215

Pekoe Dust                           227-242
Red Dust                             197-248
Dust                                 198-265
Churamoni Dust                       210-305

 (Reporting by Ruma Paul; Editing by Subhranshu Sahu)
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