Home / Agriculture/ Bangladesh tea prices fall amid supply glut

Bangladesh tea prices fall amid supply glut


Comments / {{hitsCtrl.values.hits}} Views / Friday, 26 January 2018 00:00


Dhaka (Reuters): Tea prices fell at Bangladesh’s weekly auction amid higher supply than at the previous sale, although strong demand for quality leaf capped a steeper price decline.

Bangladeshi tea fetched an average price of 229.62 taka ($ 2.80) per kg at the auction, compared with a revised price of 234.98 taka in the previous sale, National Brokers said.

There was muted demand overall but good demand for quality leaf, which helped limit a steep drop in prices when supplies were higher than last week, a senior official at National Brokers said.

About 39.5% of the 2.5 million kg offered at the sole auction centre in Chittagong was unsold, compared with 32.4% unsold of the 2.29 million kg offered at the previous auction.

Bangladesh’s tea production jumped nearly 27% in 2016 to a record 85 million kg, helped by favourable weather, making imports a choice, not a necessity.

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


Share This Article


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Reaching global quality standards through Deming Award

Wednesday, 21 November 2018

The importance of quality in the contemporary competitive business environment cannot be over-emphasised. Total Quality Management (TQM)is a company-wide, all pervasive management philosophy, which organisations globally, in many business sectors hav


Ramsar accreditation of Colombo Wetlands: Rebranding Colombo as a Wetland City

Wednesday, 21 November 2018

Colombo, once known to be “kolonthota,” has always been identified as a wetland complex at the heart of the Kelani river delta. Today this city is increasingly drying up, with around 20 sq km left as wetlands which continue to be threatened every


Coup Sri Lanka: some winners, mostly losers

Wednesday, 21 November 2018

As a president proves shockingly stubborn, a nation waits with baited breath as to what His Excellency the loose cannon on a rocky slope will do next. Two Prime Ministers and the fates of their respective parliamentary groups hang in the balance lik


Rising dollar and bank NPA, brothers in arms?

Wednesday, 21 November 2018

The rising Non-Performing Advances (NPA/NPAs) is a matter of concern to the entire financial industry. It is a nightmare. The weekend papers have published some articles based on interviews journalists conducted with respective bank CEOs and also bas


Columnists More