The average price of Bangladeshi teas rose by nearly five percent to 65.09 taka ($1.09) on higher demand at the weekly tea auction on Tuesday, brokers said. "Nearly 1.43 million kg were sold at an average price of 65.09 taka per kg, up 2.91 taka from previous sale. The withdrawal percentage was 9.23," a market report by National Brokers Limited (NBL), the country's largest tea broking firm, said.
Buyers from the Commonwealth of Independent States, Pakistan, Afghanistan and Bangladesh participated in the auction, which was held after lapse of a week due to Eid-al-Fitr Muslim festival vacations.
"The sale witnessed strong demand as both the overseas and internal buyers were much active, resulting in appreciation for all grades" Rafay Nizam, a director of NBL said.
Different grades were sold between 55 and 120 taka per kg.
The next weekly auction will be on November 30, with an expected offering of 1.51 million kg.