The average price of Bangladeshi teas fell more than 2.0 percent to 89.46 taka ($1.41) on poor quality at a delayed weekly tea auction on Wednesday, brokers said. "Some 902,821 kg were sold at an average price of 89.46 taka per kg, down 2.05 taka from previous sale. The withdrawal percentage was 18.33," a market report by National Brokers Limited (NBL), the country's largest tea broking firm, said.
Buyers from the Commonwealth of Independent States and Bangladesh participated in the auction, which was suspended due to an opposition-led strike on Tuesday.
"Prices declined as the offerings contained mostly end-of-season type, poor quality leaves," Rafay Nizam, a director of NBL, said.
Some 250 kg of well made Golden Broken Orange Pekoe realised the highest price of 177 taka per kg followed by another 150 kg of good liquoring Pekoe Fannings at 166 taka.
Other grades sold at between 40 and 109 taka.
The next weekly auction will be held on February 22, with an expected offering of nearly 1.08 million kg of tea.