Tea prices in Bangladesh rose for athird straight session at the weekly auction regarding Tuesday due to solid demand for the winter season although sales dropped in this area a higher volume of poor grades re offer.
Bangladeshi tea fetched an average 193.87 taka ($2.44) per kg at the 34th auction of this publicity season, happening from 193.55 taka in the previous sale, a National Brokers doling out said.
About 2.02 million kg were offered at the sole auction center in the harbor city of Chittagong, of which 24 percent went unsold. In the previous auction, approximately 12 percent of the 2.02 million kg offered was unsold.
There was sealed demand from local buyers for the winter season, aiding a select-going on in prices, the government said, count that sales volumes dropped, even though, upon a larger sum of poor grade leaf.
Typically demand for tea rises in Bangladesh during the winter.
The national budget for the 2015/16 fiscal year, which began in July, raised the regulatory adherence upon tea imports by 5 percent to discourage overseas buying.
Tea prices fell tersely in the last marketing season due to weak demand from local buyers, as business sentiment was hit by renewed political unrest forward this year that left anew 120 people dead and disrupted supplies.
The country has moved from mammal a net exporter to a net importer of tea due to rising consumption.
Following are the results of the latest auction (figures in
Bangladesh taka per kg):
BROKENS
Bold/Large Brokens 185-188
Medium Brokens 186-192
Small Brokens 190-197
Plain Brokens 140-155
FANNINGS
Best Fannings 198-203
Good Fannings 194-197
Medium Fannings 185-190
Plain Fannings 140-155
DUST
Pekoe Dust 180-211
Red Dust 185-213
Dust 185-213
Churamoni Dust 185-222
($1 = 77.7300 taka)
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