Blog Details

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

Bangladesh tea rally halts, less sold

Author

Michael Chen

Senior Web Developer
Tea prices in Bangladesh barely changed at a weekly auction on Tuesday after a sharp rise over the previous six sessions, and volume sold also dropped, brokers said. The average price of Bangladeshi tea was 211.27 taka ($2.6) a kg against 211.09 taka per kg at the previous sale a week ago, an official at National Brokers Limited, the country's largest tea broking firm said. Nearly 1.59 million kg of tea was offered at Bangladesh's sole auction centre in Chittagong, and 2.58 percent was left unsold. That compared with 1.7 percent unsold in the previous auction, when the offered volumes were 1.64 million kg. The next auction will be held on Sept. 11, with around 1.5 million kg on offer. Around a quarter of Bangladeshi tea is of poorer quality, and prices of good-quality tea are high compared with those of other countries. There was huge demand for good-quality tea throughout the 2011/12 year, with the average price rising to around 130 taka from 104 taka a year earlier, brokers said. Tea offered at the Chittagong auction is mostly bought by domestic buyers. Bangladesh's tax authority in January imposed a 25 percent duty on imports of tea to safeguard the local industry. The south Asian country produces 60 million kg of tea a year against demand of 56 million kg. But tea consumption is rising by 4.5 percent annually, in line with steady economic growth. Following are the results of the auction in Bangladesh taka per kg. BROKENS Bold/Large Brokens 197.00 - 205.00 Medium Brokens 207.00 - 210.00 Small Brokens 208.00 - 211.00 Plain Brokens 180.00 - 185.00 FANNINGS Best Fannings 211.00 - 213.00 Good Fannings 208.00 - 210.00 Medium Fannings 206.00 - 208.00 Plain Fannings 180.00 - 185.00 DUST Pekoe Dust Not quoted Red Dust 200.00 - 215.00 Dust 205.00 - 230.00 Churamoni Dust 205.00 - 245.00 (Reporting by Ruma Paul; Editing by Alison Birrane) Source: in.reuters.com/article/2012/09/04/bangladesh-tea-auction-idINL4E8K43HT20120904

Related Topics

Sarah Anderson

Senior Tech Writer & Developer Advocate
Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium. Passionate about creating content that bridges the gap between developers and end-users.

Discussion (8)

Proin iaculis purus consequat sem cure digni ssim donec porttitora entum suscipit rhoncus. Accusantium quam, ultricies eget id, aliquam eget nibh et. Maecen aliquam, risus at semper.

Quisque ut nisi. Donec mi odio, faucibus at, scelerisque quis, convallis in, nisi. Suspendisse non nisl sit amet velit hendrerit rutrum. Ut leo. Ut a nisl id ante tempus hendrerit.

Cras ultricies mi eu turpis hendrerit fringilla. Vestibulum ante ipsum primis in faucibus orci luctus et ultrices posuere cubilia Curae.

Nam commodo suscipit quam. Vestibulum ullamcorper mauris at ligula. Fusce fermentum odio nec arcu.

Vivamus elementum semper nisi. Aenean vulputate eleifend tellus. Aenean leo ligula, porttitor eu, consequat vitae, eleifend ac, enim.

Share Your Thoughts

Your email address will not be published. Required fields are marked *