Tea prices rally for third week

Tea prices in Bangladesh rose for athird straight session at the weekly auction on the subject of the order of the subject of Tuesday due to sealed demand for the winter season although sales dropped as regards a difficult volume of poor grades a propos apportion.

Bangladeshi tea fetched an average 193.87 taka ($2.44) per kg at the 34th auction of this backing season, taking place from 193.55 taka in the previous sale, a National Brokers running said.

About 2.02 million kg were offered at the sole auction center in the harbor city of Chittagong, of which 24 percent went unsold. In the previous auction, approximately 12 percent of the 2.02 million kg offered was unsold.

There was sound demand from local buyers for the winter season, aiding a choose-going on in prices, the government said, supplement that sales volumes dropped, even if, upon a larger quantity of destitute grade leaf.

Typically demand for tea rises in Bangladesh during the winter.

The national budget for the 2015/16 fiscal year, which began in July, raised the regulatory commitment upon tea imports by 5 percent to discourage overseas buying.

Tea prices fell hurriedly in the last publicity season due to lackluster demand from local buyers, as business sentiment was hit by renewed diplomatic unrest to the front this year that left on peak of 120 people dead and disrupted supplies.

The country has moved from swine a net exporter to a net importer of tea due to rising consumption.

Following are the results of the latest auction (figures in

Bangladesh taka per kg):

BROKENS

Bold/Large Brokens 185-188

Medium Brokens 186-192

Small Brokens 190-197

Plain Brokens 140-155

FANNINGS

Best Fannings 198-203

Good Fannings 194-197

Medium Fannings 185-190

Plain Fannings 140-155

DUST

Pekoe Dust 180-211

Red Dust 185-213

Dust 185-213

Churamoni Dust 185-222

($1 = 77.7300 taka)