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Higher demand pushes BD tea prices up

CHITTAGONG (Bangladesh): Increased demand from overseas and domestic buyers pushed up Bangladeshi tea prices at a delayed weekly auction, brokers said on Sunday.

The auction, scheduled for last Tuesday, was held on Saturday following a three-day opposition-led strike and Friday weekend.

"The demand increased as supply was disrupted by the strike," Udayan Sen of National Brokers Limited said.

Buyers for Pakistan, Poland, Russia and the Commonwealth of Independent States participated at the auction.

About 1,353,090 kg of tea were sold at an average price of 59.02 taka, up 2.81 taka from the last sale. Percentage of withdrawals was 26.86.

The next auction will be held on February 22 with an expected offer of 1,950,000 kilos.-Reuters