The average price of Bangladesh teas fell 4.5 percent to 133.64 taka ($1.95) per kg on lower overseas demand at the weekly auction on Tuesday, brokers said. More than 1.5 million kg were sold at 133.64 taka per kg on average, down 6.24 taka from the last sale. The withdrawal percentage was 1.37.
"There was a larger weight on offer which met with a fairly strong demand but as there was less competition, prices declined for all types," said a market report by the National Brokers Limited, the country's largest tea broker. Buyers for Pakistan and Bangladesh participated in the auction. Different grades were sold between 107 taka and 153 taka per kg. The next weekly auction will be held on July 15 with more than 1.3 million kg on offer.
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