The average price of Bangladesh teas rose 6.70 percent to 131.61 taka ($1.92) per kg at the weekly auction on Tuesday, brokers said. Nearly 1.19 million kg were sold at 131.61 taka per kg on average, up 8.26 taka from the last sale. The withdrawal percentage was 1.56.
"The prices increased following strong competition among buyers," Rafay Nizam, a director of the National Brokers Limited, the country's largest tea broker, told Reuters. Bangladeshi buyers including tea exporters mainly for the Commonwealth of Independent States, Pakistan and Afghanistan participated in the auction.
Different grades were sold between 95 taka and 148 taka per kg. Well made Brokens and Fannings realised higher prices than the proceedings of the previous auction. Some Dust grades declined following quality. The next weekly auction will be held on July 1 with nearly 1.16 million kg on offer.
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