Bangladesh tea prices dip
Tea prices dipped sharply at Bangladesh’s weekly auction, dragged down by inferior leaf quality despite lower volumes on offer.

Bangladeshi tea fetched an average price of 215.21 taka ($2.80) per kg at Tuesday’s auction, compared with a revised price of 229.60 taka in the previous sale, National Brokers said.

The volume of poor-grade leaf was higher and that contributed to a sharp decline in prices, while supplies were lower than last week, a senior National Brokers official said.

About 35 per cent of the 2.4 million kg offered at the sole auction centre in Chittagong was unsold, compared with 39.5 per cent unsold of the 2.5 million kg offered at the previous auction.

Bangladesh’s tea production jumped nearly 27 per cent in 2016 to a record 85 million kg, helped by favourable weather, making imports a choice rather than necessity.            

The South Asian country was the world’s fifth-largest tea exporter in the 1990s but is now a net importer because of a surge in domestic consumption in line with economic growth.

Following are the results of the latest auction (figures in

Bangladesh taka per kg):

BROKENS

Bold/Large Brokens                   not quoted

Medium Brokens                       205-210

Small Brokens                           210-215

Plain Brokens                            150-175   

FANNINGS

Best Fannings                         225-230

Good Fannings                        220-225

Medium Fannings                    205-215

Plain Fannings                        150-175

 DUST

Pekoe Dust                           not quoted

Red Dust                                138-251

Dust                                       130-260

Churamoni Dust                     195-246
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