The average price of Bangladesh teas fell nearly 1.0 percent to 120.15 taka ($1.74) per kg on poor quality at the weekly auction on Tuesday, brokers said. Nearly 1.4 million kg were sold at 120.15 taka per kg on average, down 1.17 taka from the last sale.
The withdrawal percentage was 21.85. Buyers from Pakistan and Bangladesh including exporters mainly for the Commonwealth of Independent States, participated in the auction.
"Despite a strong demand, the prices declined as the offering contained mostly end-of-season poor quality leaves," said an executive of the National Brokers Limited, the country's largest tea broker. Some 100 kg of well made Pekoe realised the highest price of 193 taka per kg while other grades were sold between 70 taka and 171 taka per kg. The next weekly auction will be held on March 17 with some 1.85 million kg on offer.