3:03 pm - Saturday August 22, 7987

Tea prices dip amid political unrest

Tea prices in Bangladesh dipped at a weekly auction on Tuesday as political turmoil over upcoming elections kept some buyers away, brokers said.

The country has been rocked by a series of strikes and transport blockades over the past few weeks, paralysing normal life and crippling economic activity. Last week’s tea auction had been postponed amid the unrest.

teaIn the latest auction, Bangladeshi tea fetched an average of 194.67 taka ($2.5) per kg against 200.04 taka in the previous auction on Nov. 26, an official from National Brokers Ltd said.

“A fair number of buyers were present at the sale although one of the major blenders and the out-station buyers operated only for a nominal quantity,” the National Brokers said in its market report. As a result, the amount of unsold tea was substantial, it added.

Nearly 2.6 million kg of tea was offered at the auction center in Chittagong, with almost 54 percent remaining unsold, compared with more than 2.4 million kg offered and 21 percent unsold at the previous auction.

Following are the results of the latest auction.

Figures in Bangladesh taka per kg.

BROKENS         

Bold/Large Brokens        175-180

Medium Brokens              177-185

Small Brokens                    188-198

Plain Brokens                     150-165

 

FANNINGS         

Best Fannings                     198-203

Good Fannings                   195-199

Medium Fannings             188-193

Plain Fannings                    150-160

 

DUST            

Pekoe Dust                            Not quoted

Red Dust                               160-208

Dust                                        165-225

Churamoni Dust                165-239

 

–         Reuters.


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