Tea prices in Bangladesh rose at the weekly auction, snapping a three-week run of declines, on strong demand for quality leaf amid tight supplies. Bangladeshi tea fetched an average 191.12 taka ($2.50) per kg, compared with 178.80 taka in the previous sale, the National Brokers said. About 28.7 percent of the 1.14 million kg offered at the sole auction centre in Chittagong remained unsold. In the previous auction, 28 percent of the 1.15 kg on offer was unsold. Bangladesh's tea output in 2016 rose by nearly 27 percent from a year earlier to a record 85 million kg, a harvest that may be big enough to make imports unnecessary.

Copyright Reuters, 2017