The average price of Bangladesh teas fell 1.95 percent to 131.04 taka ($1.91) per kg due to poor quality at the weekly auction on Tuesday, brokers said. Some 1.34 million kg were sold at 131.04 taka per kg on average, down 2.60 taka from the last sale. The withdrawal percentage was 1.32.
"Demand was fairly strong, but prices declined following quality," said a market report by the National Brokers Limited, the country's largest tea broker. Bangladeshi buyers including tea exporters mainly for the Commonwealth of Independent States, Pakistan and Afghanistan participated in the auction. Different grades were sold between 103 taka and 157 taka per kg. The next weekly auction will be held on July 22 with more than 1.4 million kg on offer.