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The average price of Bangladesh teas rose nearly 2.0 percent to 80.29 taka ($1.22) per kg following competition among buyers at the weekly auction on Tuesday, brokers said.

Buyers from the Afghanistan, Commonwealth of Independent States (CIS), Pakistan and Bangladesh participated in the auction.

"Re-entry of Afghan buyers triggered a strong competition which resulted in price appreciation for most grades," said Rafay Nizam, a director of the National Brokers Limited, the country's largest tea broker.

Afghan buyers were absent for a couple of past sales.

Different grades were sold between 68 taka and 117 taka per kg.

The next weekly auction will be held on November 8, following Eid al-Fitr vacation, with an expected offering of nearly 1.45 million kg.

Copyright Reuters, 2005


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