CHITTAGONG, July 3: The average price of Bangladesh teas fell nominally to 85.55 taka ($1.24) per kg on lower demand at the weekly auction on Tuesday, brokers said.

“Nearly 1.39 million kg were sold at an average price of 85.55 taka per kg, down 0.12 taka from the previous sale. The withdrawal percentage was 12.41,” said a statement of the National Brokers Limited, the country’s largest tea broker.

Buyers from Pakistan and Bangladesh participated in the weekly auction.

“Prices declined due to lower demand, probably because of the rainy weather, which generally dampens leaves,” said a broker. Different grades were sold between 60 taka and 131 taka per kg.

The next weekly auction will be held on July 10 with an expected offering of 1.3m kg. —Reuters