The average price of Bangladesh teas fell nearly 3.0 percent to 73.78 taka ($1.16) per kg on lower domestic demand at the weekly auction on Tuesday, brokers said. "Nearly 1.1 million kg were sold at an average price of 73.78 taka per kg, down 2.26 taka from the last sale. The withdrawal percentage was 18.26," a broker said.
Buyers from Afghanistan, the Commonwealth of Independent States, Pakistan and Bangladesh participated in the auction.
"Internal buyers were less active, and as a result prices declined," said Rafay Nizam, a director of the National Brokers Limited, the country's largest tea broking firm.
Internal buyers generally lift less tea during the monsoon, which often disrupts transport, he said.
The monsoon has been active over the past four days, triggering moderate to heavy rains across the country.
Some 200 kg of well made Broken Orange Pekoe realised the highest price of 111 taka per kg, followed by another 50 kg of Pekoe Fannings selling at 109 taka.
The next weekly auction will be held on July 12, with an expected offering of nearly 1.3 million kg.
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