Tea up by Tk 21 a kg

Weekly tea auction in Chittagong on Tuesday witnessed bullish trade, resulting in average price hike by Tk 21 a kg.

Market sources said all grades met with an excellent demand and prices moved up further, registering the highest average so far this season.

Average price of tea per kg, registered in the last week's auction, was Tk 97.21 while this week's sale was Tk 117.98.

According to the report on the sale prepared by the National Brokers Ltd., all clean liquoring brokens, fannings and dusts strongly competed and sharp rise in price was witnessed.

Blenders/packeteers dominated the market along with useful support from the loose tea buyers. Buyers from the CIS countries operated actively while the Afghan buyers were very selective. Dusts were again stronger this week at a higher level.

The details of the market reports are as follows:

CTC leaf: 1,718 chests, 14,205 gunny sacks, 1,950 p.p.w.s and 280 p/s on offer met with a much stronger demand with high prices for all grades.

Brokens: Initially prices of all brokens were from Tk 5 to Tk 10 but with the progress of sale. The prices rose from Tk 15 to Tk 20 and it moved occasionally near to the prices of liquoring verities. Large brokens were also much dearer and its prices shot up from Tk 5 to Tk 10.

Fannings: All fannings were much stronger in the market and those were dearer initially by Tk 10 and finally their prices moved up to Tk 20 with the progress of sale. Plainer types were also much dearer.

CTC Dusts: 200 chests, 1,918 gunny sacks and 183 p.p.w.s and 1 p/s on offer continued to meet with stronger demand. Prices of well-made good liquoring types advanced from Tk 10 to Tk 20 following competition.

All other grades of tea also sold well and were dearer by Tk 10. Blenders were once again very active with strong support from the loose tea buyers.