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Bangladesh tea prices rose for a third straight weekly auction on Tuesday due to robust demand for quality leaf despite a higher volume on offer, brokers said. Bangladesh tea fetched an average of 211.90 taka ($2.6) per kg at the auction, the sixth of a new marketing season, up from 205.67 taka in the previous sale.
There was strong demand for good variety and buyers were ready to pay higher premiums, a senior official at the National Brokers said. Nearly 1.3 million kg was offered at the sole auction centre in Chittagong, of which 5 percent was unsold. In the previous auction, about 3.7 percent of 1.18 million kg was unsold. Bangladesh has moved from being a net exporter to a net importer of tea due to rising consumption.

Copyright Reuters, 2016

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