Just in:  

You are here: Home»Markets»Commodities»Asia»Bangladesh tea price rallies for second week

Bangladesh tea price rallies for second week

teaDHAKA: Tea prices in Bangladesh rose 2 percent at a weekly auction on Tuesday, after rising 1.5 percent at the previous session, on strong demand for good varieties and on tight supplies, brokers said.


The average price of Bangladeshi tea rose to 217.94 taka ($2.7) a kg against 213.57 taka per kg the previous week, an official at the country's largest tea broking firm, National Brokers Limited, said.


Nearly 1.8 million kg of tea were offered at Bangladesh's sole auction centre in Chittagong, with 5.57 percent unsold, compared with 2.27 percent unsold in the previous auction when more than 1.9 million kg was offered.


Around 1.8 million kg will be offered at the next auction  on Dec. 4.


Tea sold 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.


Copyright Reuters, 2012


Index Closing Chg%
Arrow DJIA 17,812.19 0.11
Arrow Nasdaq 5,102.81 0.01
Arrow S&P 2,089.14 0.12
Arrow FTSE 6,277.23 0.45
Arrow DAX 10,933.99 1.43
Arrow CAC-40 4,820.28 1.41
Arrow Nikkei 19,879.81 0.23
Arrow H.Seng 22,587.63 0.35
Arrow Sensex 25,775.74 0.17

Wholesale Camping Equipment from China at 

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

Ad Asia 2015

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln