Chittagong Tea Auction facts for kids

The Chittagong Tea Auction is a special place in Bangladesh where tea is sold. It's like a big marketplace where tea companies offer their tea to buyers. This auction center started on 16 July 1949.

Every week, a large amount of tea grown in Bangladesh is sold here. During each tea season, about 45 auctions happen. This helps tea farmers and companies sell their tea fairly and openly.

What is the Chittagong Tea Auction?

The Chittagong Tea Auction is a central place where tea from all over Bangladesh is sold. It works like an open market. Buyers bid on large amounts of tea. This happens once a week. The auction makes sure tea is sold in a clear and honest way.

Who Manages the Tea Industry?

The Bangladesh Tea Board

The tea industry in Bangladesh is looked after by the Bangladesh Tea Board. This board makes sure everything runs smoothly. It also supervises other important groups. These include the Tea Traders Association of Bangladesh (TTAB) and the Bangladesh Tea Association (BCS).

The Tea Traders Association of Bangladesh (TTAB)

The Tea Traders Association of Bangladesh (TTAB) has a very important job. They organize and control the Chittagong Tea Auction. Their main goal is to make sure tea is sold quickly and clearly.

The tea auction takes place every Tuesday. Tea Brokers are the ones who conduct the sales. The TTAB has seven official tea brokers. These are:

• National Brokers
• Purba Bangla Brokers
• Unity Brokers
• Produce Brokers
• K.S. Brokers
• Progressive Brokers
• Planters Brokers

Among these, National Brokers and Purba Bangla Brokers are the oldest and have been around the longest.

How Does the Tea Auction Work?

Step 1: Tea Arrives at Warehouses

First, the tea that is grown in different gardens is sent to special storage places. There are 14 of these bonded warehouses. Most of them are located in Chittagong.

Step 2: Tea Tasting and Catalog Preparation

Next, the tea brokers receive samples of the tea. They then taste the tea. Tea tasting is a skill where a trained person checks the quality of the tea. After tasting, the brokers create catalogs. These catalogs list all the teas for sale. They also set a suggested price for each tea.

Step 3: Information for Buyers

Before the weekly auctions, the catalogs and price lists are sent to all the buyers. This gives buyers time to review the teas. They can decide which teas they want to bid on.

Step 4: The Auction Day

Finally, the traders come to the auctions. They take part in the bidding process. They buy the tea they need. After the sale, the tea goes to retailers. From there, it reaches the people who will drink it.

After each auction, a report is made. This report shows how the market performed. It also includes statistics about the auction. This information is available for everyone to see.

See also

• Tea processing
• List of stock exchanges in the Commonwealth of Nations
• Purba Bangla Brokers Limited
• Tea Traders Association of Bangladesh