Tea prices in Bangladesh rose at the weekly auction for the 11th time in a row on strong demand for quality leaf and tight supplies.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Bangladeshi tea fetched an average of 283.27 taka ($2.7) per kg in the port city of Chittagong on Tuesday, compared with 276.34 taka at the previous sale.

There was robust demand from buyers while supplies were lower than the last sale, an official at National Brokers said.

About 4.3 percent of the 2.33 million kg offered in the auction was left unsold. At the previous auction, around 2.48 million kg was offered, of which 2.2 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):BROKENS

Bold/Large Brokens                   280-285

Medium Brokens                       282-287

Small Brokens                        282-287

Plain Brokens                        220-260

   

FANNINGS

Best Fannings                        286-288

Good Fannings                        283-285

Medium Fannings                      280-282

Plain Fannings                       220-265DUST

Pekoe Dust                           280-280

Red Dust                             240-301

Dust                                 245-301

Churamoni Dust                       267-317

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)