Bangladeshi tea prices fall

The average price of Bangladeshi teas fell 7.92 percent to 170.89 taka ($2.34) per kg on lower overseas demand at the weekly auction on Tuesday, brokers said. Some 42.28 percent of the 794,865 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 in the port city of Chittagong. "The prices declined substantially as there was almost nill sale on exports accounts," said an executive of the National Brokers Limited, the largest tea broking firm in the country. Different grades were sold between 155 taka and 228 taka per kg at the auction, in which a small quantity of teas was offered for sale.