Bangladesh tea prices fall

Tea prices fell sharply at Bangladesh's weekly auction due to large supplies of inferior-quality leaf. Bangladeshi tea fetched an average price of 200.01 taka ($2.80) per kg at Tuesday's auction, compared with a revised price of 215.01 taka in the previous sale, National Brokers said.
Prices dropped sharply as buyers sought huge discounts for poor-quality tea, of which there was huge supply, a senior official at National Brokers said. About 38 percent of the 2.7 million kg offered at the sole auction centre in Chittagong was unsold, compared with 35 percent unsold of the 2.5 million kg offered at the previous auction.