Bangladeshi teas fetched good prices amid fair demand at the maiden weekly auction of the season (April-March) on Tuesday, brokers said.
"Some 681,241 kg were sold at an average price of 68.98 taka, up 0.68 taka from the maiden auction of the last (2003-04) season," a market report by National Brokers Limited (NBL) said.
The offerings on first sale contained mostly new season teas which met with a good demand and the withdrawal percentage was 12.42, the report said.
Bangladeshi buyers participated in the auction and brokers said they would expect foreign buyers from the late next month when offering would be enhanced beyond a million kg.
The average price plunged to a record low at 41.63 taka per kg on poor quality and the withdrawal percentage was an unprecedented 60.13 percent in the final auction of the last season on March 16.
On Tuesday some 450 kg of well made Golden Brokens Orange Pekoe realised the highest price of 180 taka per kg followed by another 300 kg good liquoring Pekoe Fannings 170 taka per kg.
Other grades were sold between 64 taka and 108 taka per kg.
The next weekly auction will be held on May 5 with an expected offerings 605,000 kg.
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