The average price of Bangladesh teas fell 1.01 percent to 119.50 taka ($1.74) per kg on poor quality at the weekly auction on Tuesday, brokers said. Nearly 1.28 million kg were sold at 119.50 taka per kg on average, down 1.22 taka from the last sale. The withdrawal percentage was 15.55.
"Demand were fairly strong, but prices declined following quality," said an executive of the National Brokers Limited, the country's largest tea broker. However, better teas fetched higher prices at the auction. Buyers from Pakistan and Bangladesh participated in the weekly auction. Different grades were sold between 94 taka and 142 taka per kg. The next weekly auction will be held on August 26 with more than 1.44 million kg on offer.