Bangladesh tea prices fall

Tea prices in Bangladesh fell about 4 percent at the weekly auction on Tuesday due to lower demand for inferior quality leaf, but a fall in supplies prevented a steeper decline. Bangladesh tea fetched an average of 199.49 taka ($2.50) per kg at the auction, down from 208.13 taka in the previous sale.
Demand was tepid from local buyers although supplies were lower than last week, but that included a higher percentage of low grade leaf, a senior official of the National Brokers said.
However, there was strong demand for quality tea, which was in short supply, the official said.
About 29.4 percent of 2.39 million kg offered at the sole auction centre in Chittagong was unsold.