Tea prices snap 9-weeks losing streak
Bangladeshi tea fetched an average of 118.81 taka ($1.50) per kg at the auction, up from 109.66 taka at the previous week’s sale, when prices fell around 20 percent, an official from National Brokers Limited said.
More than 2 million kg was offered at the auction centre in Chittagong, and almost 60 percent remained unsold. At the previous auction, 2.4 million kg was offered, of which nearly 62 percent went unsold.
“There was good demand for quality tea, which is in short supply,” the official said.
Buyers were reluctant to buy end-of-season tea that tends to be of poor quality, he added.
The auction season, typic...