The average price of Bangladesh teas fell on poor quality at the penultimate weekly auction of the season on Tuesday, brokers said.
"Some 548,800 kg were sold at an average price of 53.46 taka per kg, down 3.80 taka from the last sale. The withdrawal percentage was a record 51," a market report by National Brokers Limited (NBL) said.
Buyers for Pakistan and Bangladesh exporters along with loose tea traders participated in the auction.
"The prices fell nearly by 6.64 percent and the withdrawal was the largest as the offering contained mostly end of season type poor quality leaves," Rafay Nizam, a director of NBL, told Reuters.
Some 150 kg of well-made Golden Brokens Orange Pekoe realised the highest price of 130 taka per kg while other grades sold at between 33 and 128 taka.
The final weekly auction for the concluding tea growing season (April-March) will be held on March 16, with an expected offering of 1.2 million kg.
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