Home / Agriculture/ Bangladesh tea prices fall on inferior quality leaf

Bangladesh tea prices fall on inferior quality leaf


Comments / {{hitsCtrl.values.hits}} Views / Friday, 9 March 2018 00:00


DHAKA (Reuters) - Tea prices in Bangladesh fell at a weekly auction, dragged down by poor quality leaf, although the total volume offered for sale this week was lower than at the previous auction. Bangladeshi tea fetched an average price of 184.12 taka ($2.80) per kg at the auction held on Tuesday, compared with a revised price of 187.13 taka in the previous sale, National Brokers said.

Buyers showed little interest in the end-of-season leaf that usually tends to be of inferior quality, at the penultimate auction of the current marketing season, said a senior executive at National Brokers.

 About 1.5% of the 1.19 million kg offered at the sole auction centre in Chittagong was unsold, compared with 11% unsold of the 2.09 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 rather than a 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.


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 Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.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

In the desert of Tamil films, actor Sivaji Ganesan was an oasis

Saturday, 22 September 2018

‘Indian Film,’ first published in 1963 and co-authored by former Columbia University Professor Erik Barnouw and his student Dr. Subrahmanyam Krishnaswamy, is considered a seminal study of the evolution and growth of Indian cinema. The book is cit


Imran may turn blind eye to blasphemy law and persecution of Ahmadiyyas

Saturday, 22 September 2018

There are clear signs that Pakistan’s freshly minted Prime Minister, Imran Khan, will make a sincere effort to reduce corruption and maladministration in the domestic sphere. In foreign affairs he is likely to make a brave attempt to mend fences wi


The rate of exchange, capital flight and the Central Bank

Friday, 21 September 2018

The Central Bank (CBSL) exists for the sole purpose of price stability. Its controls on the financial system and monetary policy exist to maintain price stability. As put forth many times by the Governor, the failing of the CBSL to control inflation


Red flag over the Sri Lankan Navy

Friday, 21 September 2018

Shocking story Rusiripala, a former banker in Sri Lanka, who has taken to writing in Daily FT, is perturbed by the red flag I have raised (Daily FT article 18 September) over the shocking charge that our Navy had operated a ransom gang that had abduc


Columnists More