Tea prices in Bangladesh rose for athird straight session at the weekly auction almost Tuesday due to mighty demand for the winter season although sales dropped on the subject of a proud volume of destitute grades in version to pay for.
Bangladeshi tea fetched an average 193.87 taka ($2.44) per kg at the 34th auction of this minister to season, taking place from 193.55 taka in the previous sale, a National Brokers meting out said.
About 2.02 million kg were offered at the sole auction center in the harbor city of Chittagong, of which 24 percent went unsold. In the previous auction, approximately 12 percent of the 2.02 million kg offered was unsold.
There was sealed demand from local buyers for the winter season, aiding a choose-happening in prices, the giving out said, count that sales volumes dropped, even though, on the order of a larger quantity of poor grade leaf.
Typically demand for tea rises in Bangladesh during the winter.
The national budget for the 2015/16 fiscal year, which began in July, raised the regulatory commitment upon tea imports by 5 percent to discourage overseas buying.
Tea prices fell unexpectedly in the last upholding season due to feeble demand from local buyers, as situation sentiment was hit by renewed political unrest to the fore this year that left beyond 120 people dead and disrupted supplies.
The country has moved from liven up thing a net exporter to a net importer of tea due to rising consumption.
Following are the results of the latest auction (figures in
Bangladesh taka per kg):
BROKENS
Bold/Large Brokens 185-188
Medium Brokens 186-192
Small Brokens 190-197
Plain Brokens 140-155
FANNINGS
Best Fannings 198-203
Good Fannings 194-197
Medium Fannings 185-190
Plain Fannings 140-155
DUST
Pekoe Dust 180-211
Red Dust 185-213
Dust 185-213
Churamoni Dust 185-222
($1 = 77.7300 taka)
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