First online tea auction held in Panchagarh

Bidding at the country's first online tea auction centre kicked off in Panchagarh on Wednesday.

The Panchagargh Tea Auction Centre is the third of its kind in the country and it is the first hub to have an online auction facility.

The bidding ended with tea auctioned at a maximum rate of Tk 212 a kg and a minimum rate of Tk 102 a kg, said a press release.

The new auction centre in Panchagarh was inaugurated a month ago. On the first day of online auction, 0.113 million kgs of tea was offered for sale in 419 lots, and deals for 0.098 million kgs were made.

The average price was Tk 119.56 a kg and the total trade reached Tk 11.6 million.

In the auction, the tea of MM Tea Estate was sold at the highest price of Tk 212 a kg. Three broker houses in northern region and about 25 buyers participated in the online auction.

The second auction will be held on October 18.

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