December 6, 2017 / 8:58 AM / 5 months ago

Bangladesh tea prices rise on winter demand

    DHAKA, Dec 6 (Reuters) - Tea prices in Bangladesh edged up
at the weekly auction due to strong winter demand despite higher
volumes on offer.
    Bangladeshi tea fetched an average price of 238.47 taka
($2.80) per kg at the auction on Tuesday, compared with a
revised price of 238.16 taka at the previous sale, National
Brokers said.
    There was strong demand as buyers wanted to stock up for the
winter although supplies were greater than last week, an
official with National Brokers said.
    Demand for tea in Bangladesh usually rises in winter.
    Around 13.9 percent of the 2.59 million kg offered at the
sole auction centre in Chittagong remained unsold. In the
previous auction, 12 percent of the 2.54 million kg on offer was
unsold.
    Bangladesh's tea production rose nearly 27 percent last year
to a record 85 million kg, a harvest that was seen as big enough
to make imports unnecessary.             
    The South Asian country was the world's fifth-largest tea
exporter in the 1990s but is now a net importer due to a surge
in domestic consumption.
    
    Following are the results of the latest auction (figures in
Bangladesh taka per kg):

BROKENS
Bold/Large Brokens                   225-230
Medium Brokens                       232-237
Small Brokens                        235-240
Plain Brokens                        165-180
    
FANNINGS
Best Fannings                        245-252
Good Fannings                        237-242
Medium Fannings                      230-235
Plain Fannings                       165-180

DUST
Pekoe Dust                           not quoted
Red Dust                             217-275
Dust                                 195-278
Churamoni Dust                       184-290 

 (Reporting by Ruma Paul; Editing by Biju Dwarakanath)
  
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