Tea prices in Bangladesh fell at auction on Wednesday despite strong buying interest as vendors sought to clear stocks in the final weekly sale of the season, brokers said. The average price of Bangladeshi tea fell to 178.89 taka ($2.28) per kg against 194.35 taka last week, an official at National Brokers Limited said.
All of the nearly 307,323 kg of tea offered at Bangladesh's sole auction centre in Chittagong sold compared with 759,000 kg offered and 12.5 percent left unsold in the previous auction. There was also some interest from Pakistan and there were virtually no withdrawals. "A few new season teas on offer saw spirited bidding." The auction was delayed by a day due to a nation-wide work stoppage on Tuesday.
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