The average price of Bangladesh teas rose 1.55 percent to 125.15 taka ($1.82) per kg at the weekly auction on Tuesday, brokers said. Nearly 1.32 million kg were sold at 125.15 taka per kg on average, up 1.91 taka from the last sale. The withdrawal percentage was unchanged at 5.80.
Buyers from Pakistan and Bangladesh including exporters, mainly for the Commonwealth of Independent States, participated in the auction. "Strong demand moved prices forward at the auction," said Rafay Nizam, a director of National Brokers Limited, the country's largest tea broker.
Some 100 kg of well-made Pekoe Fannings realised the highest price of 183 taka per kg followed by another 500 kg at 174 taka per kg while other grades were sold between 85 taka and 170 taka per kg. The next weekly auction will be held on January 20 with some 1.51 million kg on offer.