The average price of Bangladesh teas rose up more than 1.0 percent to 99.40 taka ($1.43) per kg on higher demand at a weekly auction on Tuesday, brokers said.
"Nearly 1.35 million kg were sold at an average price of 99.40 taka per kg, up 1.05 taka from the last sale. The withdrawal percentage was 3.56," said an official of the National Brokers Limited (NBL), the country's largest tea broker.
Buyers for Pakistan and Bangladesh participated in the auction. Some 250 kg of Red Dust realised the highest price of 145 taka per kg, followed by another 250 kg of Golden Broken Orange Pekoe, selling at 142 taka.
Other grades were sold between 86 and 126 taka per kg. "There was a strong demand this week. As a result prices were generally dearer particularly for brighter liquoring types," said a market report by NBL. The next weekly auction will be held on August 8 with an expected offering of nearly 1.16 million kg.