12:49 am - Tuesday October 24, 2017

Tea up on strong demand for quality leaf

Tea prices in Bangladesh rose at the weekly auction on Tuesday on strong demand for quality leaf, although sales dropped for the large quantity of poor grade supplies on offer, brokers said.

teaAt the latest auction, Bangladeshi tea fetched an average of 198.43 taka ($2.55) per kg against 196.93 taka in the previous auction held on Jan. 15, an official from National Brokers Limited said.

“Buyers are ready to pay higher price for good quality tea, but higher supplies of poor grade tea pulled down overall sales volume,” the official said.

Nearly 2 million kg of tea was offered at the auction centre in Chittagong, with 28 percent remaining unsold. Around 1.87 million kg of tea was offered, and 16 percent went unsold at the previous auction.

The South Asian country produces 60 million kg of tea a year against demand of 56 million.

Following are the results of the latest auction. Figures in

Bangladesh taka per kg.

BROKENS

Bold/Large Brokens                170-178

Medium Brokens                       185-192

Small Brokens                             195-205

Plain Brokens                              150-165

FANNINGS

Best Fannings                              205-210

Good Fannings                            199-204

Medium Fannings                      190-195

Plain Fannings                             150-165

DUST

Pekoe Dust                        Not quoted

Red Dust                             165-246

Dust                                      170-219

Churamoni Dust              190-276

-Reuters.


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