Tea prices in Bangladesh fell about 1 percent at the weekly auction on Tuesday as volumes on offer were at their highest level of the season. Bangladesh tea fetched an average of 212.48 taka ($2.8) per kg at the auction, the 13th of the new marketing season, compared with 214.23 taka in the previous sale.
A larger quantity of tea was on offer which was well absorbed at slightly lower rates, National Brokers said in a market report. About 2.3 million kg were offered at the sole auction centre in Chittagong, of which about 8 percent was unsold. In the previous auction, about 8 percent of the 2 million kg on offer was unsold. Bangladesh has moved from being a net exporter to a net importer of tea due to rising consumption.