The average price of Bangladeshi teas leapt 3 percent to 169.15 taka ($2.24) per kg on rebounding foreign demand at the weekly auction on Tuesday, brokers said. Some 10.60 percent of the 937,307 kg on offer remained unsold and were taken back to storage.
Bangladeshi buyers, including exporters mainly to the Commonwealth of Independent States and Pakistan participated in the auction, held in the country's lone auction centre in the main port city Chittagong.
Export demand has started to pick up after several weeks' slide at the beginning of new season, said an executive of the National Brokers Limited, the largest tea broking firm in the country. Different grades were sold between 142 taka and 250 taka per kg at the auction. The next auction will be held on Tuesday, May 31 with offer of 738,423 kg.