Tea prices in Bangladesh declined at the weekly auction on Tuesday as renewed political unrest disrupted supplies and hit usually higher winter demand from local buyers, reports Reuters.
At least 17 people have been killed so far, including four who were burnt to death early Wednesday, police inspector Abdur Razzak told Reuters by phone from Rangpur in the country's north.
Bangladesh has been rocked by political unrest since anti-government protests turned violent on Jan. 5 on the first anniversary of a disputed election.
Tea volumes were down this week on tepid local demand as political violence and transport blockades partly disrupted supplies, an executive with National Brokers Ltd said.
Bangladeshi tea fetched an average 188.88 taka ($2.40) per kg, compared with 192.89 taka at the previous sale, he said.
About 1.9 million kg were offered at the sole auction centre in Chittagong, of which 30 percent went unsold. In the previous auction, nearly 2 million kg were offered, with nearly 22 percent remaining unsold.
Tea production in Bangladesh rose 1.6 percent in 2013 to a record 63.5 million kg thanks to favourable weather but was still short of the domestic consumption of about 65 million kg.
The country has moved from being a net exporter to a net importer of tea because of rising consumption.
In April 2014, Bangladesh increased customs duty to 15 percent from 5 percent to discourage imports amid a drop in local prices due to ample supplies.
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