Elections unrest drags on Bangladesh tea prices

Thursday, 19 December 2013 00:15 - - {{hitsCtrl.values.hits}}

Reuters: Tea prices in Bangladesh dipped at a weekly auction on Tuesday, losing ground for the fourth session in a row, as turmoil over upcoming elections kept some buyers away, brokers said. The country has been racked by a series of strikes and transport blockades over the past few weeks, paralysing normal life and crippling economic activity. The tea auction of Dec. 3 was postponed due to the unrest. In the latest auction, Bangladeshi tea fetched an average of 192.18 taka ($2.5) per kg against 194.67 taka in the previous auction, an official from National Brokers Ltd said. More than 2.3 million kg of tea was offered at the sole auction center in Chittagong, with almost 40 percent remaining unsold, compared with nearly 2.6 million kg offered and 54 percent unsold at the previous auction.

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