Tea sales normalising, offsetting virus fallout
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Saturday
February 04, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
SATURDAY, FEBRUARY 04, 2023
Tea sales normalising, offsetting virus fallout

Bazaar

Shahadat Hossain Chowdhury
30 July, 2020, 01:55 pm
Last modified: 30 July, 2020, 02:11 pm

Related News

  • Elvis Presley's address book, other items up for auction
  • Gold seized in Ctg over 20 years ago to be auctioned
  • 'Tea workers still not visible in national policies'
  • Warhol nephew to auction two works by pop artist
  • Farmers suffer despite success in plain land tea cultivation

Tea sales normalising, offsetting virus fallout

More buyers are attending tea auctions in Chattogram and the brokerage houses are making more sales

Shahadat Hossain Chowdhury
30 July, 2020, 01:55 pm
Last modified: 30 July, 2020, 02:11 pm
Representational Image. Photo: Collected
Representational Image. Photo: Collected

The domestic tea market is bouncing back on rising demand – shaking off the novel coronavirus shock which caused a rare stir in the usually steady tea sales. Auctions that have taken place in the current auction year show the tea sales are on the rise and have surged more than threefold within two months.  

Industry people said tea would recover from the Covid-19 fallout and return to normalcy soon if the uptrend in sales continues.   

Tea auctions are being held at the port city of Chattogram's Agrabad-based World Trade Centre – maintaining health and safety guidelines amid the pandemic. Though the auctions previously witnessed fewer buyers, the number have increased as the virus situation has improved. And tea sale offers are also climbing gradually.

According to the Bangladesh Tea Board, nine auctions have taken place from May 18 to July 20 in the new auction year. During the bidding, brokerage houses offered 2.32 crore kilogrammes of tea so far.     

Tea estates send their yields to brokerage houses. The tea board then assesses their quality and determines their grades and prices. The grades and prices are then put on brokerage house catalogues.

Buyers registered with the Bangladesh Tea Board start the bidding in line with the prices mentioned in the catalogues.

On May 18, at the first auction, 11 lakh kilogrammes of tea were offered for sale while the amount at the ninth bidding on July 20 rose to 37 lakh kilogrammes.   

The average price of sales at eight biddings stands at Tk184 per kilogramme while the nine biddings offered tea worth Tk426.88 crore.     

Deputy Manager of the Karnaphuli Tea Estate Rashed Mahmood said tea sales were improving and their consignments sent to the brokerage houses were being sold easily.   

"We will be able to counteract the virus fallout soon if things keep improving at this pace," he added.  

Echoing Rashed, Tea Traders Association of Bangladesh Chairman Mainuddin Hasan told The Business Standard that every auction was exhibiting market improvement.

"Sale offers are on the rise and good quality tea consignments are being sold promptly," he added.      

Sujit Bhattacharyya, senior manager of Produce Brokers, told The Business Standard that demand for tea fell owing to the virus situation at the beginning of the new auction year. The market is improving slowly.   

"Restaurants and tea stalls have reopened as the shutdown ended, increasing the demand for tea. Tea auctions are reflecting the businesses reopening," he commented.       

However, the auctions have shown a downtrend in tea prices.  

Arifur Rahman Shaheen, director of Purba Bangla Brokers Ltd, said the virus outbreak was one of the major causes for the price fall. Additionally, less rainfall at the beginning of the year and pest attacks on tea resulted in low quality production which also contributed to the price fall.      

While contacted, Bangladesh Tea Board Secretary Kula Pradip Chakma refused to comment in this regard.  

According to the board, Bangladesh's tea production in 2019 was 96.07 million kilogrammes of yield. The country produced 21.81 million kilogrammes of tea in the January-June period of this year.

The country has 167 tea gardens throughout: Sylhet, Habiganj, Moulvibazar, Chattogram, and Panchagarh. More than three lakh workers are involved in tea growing at those gardens. Additionally, 5,000 farmers are involved in tea cultivation in the northern region and Bandarban.     

The last two consecutive tea biddings in the last 2019-20 auction year were suspended due to the novel coronavirus outbreak. The brokerage houses brought out the old and unsold tea for auction in the new year.

Top News / Trade

Tea / Sales / Tea sales / Bangladesh Tea Board / Auction

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • The Adani Group headquarters in Ahmedabad. Photo: Bloomberg
    Adani Enterprises shelves $122 million bond plan
  • Illustration: TBS
    Cash-strapped banks fail to maintain emergency cash
  • Israeli forces kill unarmed Palestinian man in occupied West Bank
    Israeli forces kill unarmed Palestinian man in occupied West Bank

MOST VIEWED

  • Representative Photo: Pixabay.
    Refined sugar prices rise by Tk5 per kg
  • Import curbs drive up spice prices
    Import curbs drive up spice prices
  • File Photo: Saikat Bhadra/TBS
    Market manipulation: Holding companies accountable may not be easy
  • The cultivation of winter vegetables is in full-swing on the banks of Chattogram’s Dohazari Shankh river. Winter vegetables are cultivated in large areas in Munshir Char on the north of the river while in Dharmapur, Rasulabad, Chagachar on the south.The vegetable produce in Dohazari area, where this photo was taken, are also exported to various Middle East countries. Photo: Mohammad Minhaj Uddin.
    Dohazari vegetable hub picks up steam as winter arrives
  • TCB to procure 2.20cr litres of soybean oil for OMS
    TCB to procure 2.20cr litres of soybean oil for OMS
  • Price of soybean oil up by Tk12, sugar by Tk13
    Price of soybean oil up by Tk12, sugar by Tk13

Related News

  • Elvis Presley's address book, other items up for auction
  • Gold seized in Ctg over 20 years ago to be auctioned
  • 'Tea workers still not visible in national policies'
  • Warhol nephew to auction two works by pop artist
  • Farmers suffer despite success in plain land tea cultivation

Features

Sketch: TBS

Say 'Salud' before your salad main course

7h | Food
Coots running. Photo: Enam Ul Haque

Cute Coot of Baikka Beel: 'And yet he was as bald as a coot'

2h | Panorama
With only one government run specialised cancer hospital in the capital — the National Institute Of Cancer Research and Hospital (NICRH) in Mohakhali — patients have no option but to resort to private hospitals. Photo: Noor A Alam.

Cancer care: Medical treatment and beyond

8h | Panorama
Andy Mukherjee. Sketch: TBS

What makes India's billionaires' support special for Adani

1d | Panorama

More Videos from TBS

Concord launches new plant to produce environment friendly bricks

Concord launches new plant to produce environment friendly bricks

4h | TBS Stories
How Asif Khan would invest his fresh funds right now

How Asif Khan would invest his fresh funds right now

5h | TBS Markets
A proper price formula can help investors to plan big

A proper price formula can help investors to plan big

1d | TBS Round Table
Rumors about Sarika that everyone thinks are true

Rumors about Sarika that everyone thinks are true

1d | TBS Entertainment

Most Read

1
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected
Panorama

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

2
Photo: Collected
Energy

8 Ctg power plants out of production

3
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
Economy

IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms

4
Fund cut as Dhaka's fast-track transit projects on slow spending lane
Infrastructure

Fund cut as Dhaka's fast-track transit projects on slow spending lane

5
Photo: Collected
Court

Japanese mother gets guardianship of daughters, free to leave country

6
Belal Ahmed new acting chairman of SIBL
Banking

Belal Ahmed new acting chairman of SIBL

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]