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The average price of Bangladeshi teas continued to slide on lower overseas demand at the weekly auction on Tuesday, brokers said. "About 1.15 million kg were sold at an average price of 62.18 taka ($1.04) per kg, down 0.17 taka from previous sale. The withdrawal percentage was 13.73," a market report by National Brokers Limited (NBL), the country's largest tea broking firm, said.
Buyers from the Commonwealth of Independent States (CIS), Pakistan, Afghanistan and Bangladesh participated in the auction.
"The average price declined as Pakistan and CIS buyers, the major foreign participants, were selective," Rafay Nizam, a director of NBL, said.
Some 100 kgs of well-made Pekoe Dust realised the highest price of 112 taka per kg, followed by another 100kg of Red Dust at 111 taka.
Other grades sold between 54 and 105 taka per kg.
The next weekly auction will be on November 23 after Eid-al-Fitr Muslim festival vacations, with an expected offering of 1.52 million kg.

Copyright Reuters, 2004

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