The average price of Bangladeshi tea fell by 0.53 percent to 138.28 taka ($2) per kg on a lack of overseas demand at the weekly auction on Tuesday, brokers said. Nearly 1.32 million kg were sold on average at 138.28 taka per kg, down 0.73 taka from the last sale. Some 4.48 percent of teas on offer remained unsold and were taken back.
Bangladeshi buyers, including exporters mainly to Pakistan and the Commonwealth of Independent States, participated in the sale at the country's lone auction centre in the main port city Chittagong. "Despite a strong domestic demand, there was no export buying," said an executive of the National Brokers Limited, the country's largest tea broker.
Some 350 kg of Golden Broken Orange Pekoe realised the highest price of 190 taka per kg followed by another 500 kg of Pekoe Fannings selling at 179 taka per kg. Other grades were sold between 105 taka and 172 taka per kg. The next weekly auction will be held on September 15 with an offer of 1.45 million kg.