CHITTAGONG, Jan 31: The average price of Bangladesh teas fell 3.62 per cent to 73.44 taka ($1.1) per kg on poor quality at the weekly auction on Tuesday, brokers said.

More than 1.07 million kg were sold at average price of 73.44 taka per kg, down 2.76 taka from the last sale. The withdrawal percentage was 42.97, said an auctioneer.

Buyers from Afghanistan, Pakistan and Bangladesh participated in the auction.

Prices of most grades declined, because the offerings comprised of a heavier weight of end of season type poor leaves” said a market report by the National Brokers Limited, the country’s largest tea broker.

Some 300 kg of well-made Broken Orange Pekoe realised the highest price of 133 taka per kg, followed by 150 kg Pekoe Fannings selling at 125 taka. Other grades sold at 40 to 112 taka. The next weekly auction will be held on Feb 7, with an expected offering of 2.06 m kg.—Reuters