Bangladeshi tea prices rise on higher demand

The average price of Bangladeshi teas rose 1.2 percent to 177.06 taka ($2.4) per kg, driven by demand for good liquoring varieties, at the weekly auction on Tuesday, brokers said. Nearly 16 percent of the 1.07 million kg on offer remained unsold and were taken back to the storage.
Bangladeshi buyers, including exporters mainly to the Commonwealth of Independent States and Pakistan participated in the auction, held in the country's only auction centre in the main port city Chittagong. "Market trend was similar to last week except that there was more interest from the blenders," the National Brokers Limited, the largest tea broking firm in the country, said in its market report. "Good liquoring varieties were in strong demand while plainer types witnessed much less demand and there were several withdrawals," it added.