The average price of Bangladesh teas plunged more than 20 percent to 54.59 taka ($0.8) per kg on poor quality at the penultimate weekly auction on Tuesday, brokers said.
"Nearly 806,082 kg were sold at average price of 54.59 taka per kg, down 13.74 taka from the last sale. The withdrawal percentage was 47.41," said an auctioneer.
Buyers from Afghanistan, Pakistan and Bangladesh participated in the auction.
"The prices fell drastically as the offerings contained end of season type (poor quality) leaves," said an executive of National Brokers Limited, the country's largest tea broker.
Different grades sold between 30 and 95 taka per kg.
The final weekly auction of the season (April-March) will be held on March 14, with an expected offering of 900,000 kg.
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