Tea prices in Bangladesh fell for a second session at the weekly auction on Tuesday because of tepid demand, despite a low volume on offer. Bangladesh tea fetched an average of 214.23 taka ($2.8) per kg at the auction, the 12th in the new marketing season, compared with 215.04 taka in the previous sale.
There was thin demand from local buyers although the volume on offer was lower than in the last auction, National Brokers said in a market report. About 2 million kg were offered at the sole auction centre in Chittagong, of which about 8 percent was unsold. In the previous auction about 11 percent of the 2.2 million kg on offer was unsold. Bangladesh has moved from being a net exporter to a net importer of tea due to rising consumption.
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