3:02 am - Friday December 15, 2017

Tea prices dip for second week

Tea prices in Bangladesh slipped for a second straight week at a weekly auction on Tuesday as demand from local buyers was poor amid political violence, brokers said.

The average price of Bangladeshi tea was 200.04 taka ($2.74) per kg against 213.25 taka in the previous auction on Nov. 19, an official from National Brokers Ltd said on Wednesday.

teaNearly 2.4 million kg of tea was offered at the country’s sole auction centre in Chittagong, with about 21 percent remaining unsold, compared with more than 2.4 million kg offered and 17 percent unsold at the previous auction.

“Offerings continued to be large, but were fairly well absorbed at lower rates,” National Brokers said in a market report.

“Although blenders were operating, there was less competition in the room. Loose Tea buyers were quiet. There were fair withdrawals in the plain category.”

Demand for tea usually picks up in winter, which begins late this month. But demand was poor from local buyers as a planned nationwide protest against upcoming elections turned violent on Tuesday.

Tea prices in India, the world’s second-biggest producer, were largely steady at last week’s auction with robust demand for quality leaf, while the average price of top Kenyan tea rose to $4.10 per kg at this week’s auction from $3.57 per kg last week.

Following are the results of the latest auction. Figures in Bangladesh taka per kg.

BROKENS

Bold/Large Brokens                            180-185

Medium Brokens                                 182-192

Small Brokens                                     199-208

Plain Brokens                                      160-175

FANNINGS         

Best Fannings                                      206-210

Good Fannings                                    202-205

Medium Fannings                                195-200

Plain Fannings                                      165-175

DUST            

Pekoe Dust                                         Not quoted

Red Dust                                             168-216

Dust                                                    170-225

Churamoni Dust                                   170-229

 -Reuters.


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