Chittagong Tea Auction facts for kids

The Chittagong Tea Auction center started on 16 July 1949. It's a special place where tea from all over Bangladesh is sold. Think of it like a big marketplace for tea!

Every week, tea is sold in large amounts to buyers through an open auction. This means everyone can see the prices and how the tea is sold. During each tea season, about 45 auctions happen here.

What is the Chittagong Tea Auction?

The Chittagong Tea Auction is where most of the tea grown in Bangladesh gets sold. It's a very important part of the tea industry. Buyers from different companies come to bid on the tea they want. This helps make sure tea is sold fairly and quickly.

Who Manages the Tea Auction?

The tea industry in Bangladesh is looked after by the Bangladesh Tea Board. They make sure everything runs smoothly. The Bangladesh Tea Board also works with other groups. These include the Tea Traders Association of Bangladesh (TTAB) and the Bangladesh Tea Association (BCS).

The Tea Traders Association of Bangladesh (TTAB) is in charge of organizing the Chittagong Tea Auction. Their main job is to make sure tea is sold quickly and clearly. This helps everyone involved trust the process.

The Role of Tea Brokers

The tea auction happens every Tuesday. Special people called Tea Brokers conduct the sales. They are experts who help sell the tea.

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

National Broker and Purba Bangla Brokers are the oldest among these seven. They have been helping sell tea for a long time!

How Tea is Sold at Auction

Selling tea at the auction follows a few steps:

• First, tea from the gardens goes to special storage places. There are 14 of these warehouses, mostly in Chittagong.
• Next, the tea brokers get samples of the tea. They taste the tea to check its quality. This is called "tea tasting." A trained taster can tell a lot about the tea just by tasting it.
• Then, the brokers make catalogs. These catalogs list all the teas for sale. They also suggest a starting price for each tea.
• Before the weekly auction, these catalogs are sent to all the buyers. This gives buyers time to decide what tea they want to bid on.
• After that, the traders come to the auction. They bid on the tea they want to buy.
• Finally, the tea reaches the shops and then the people who drink it!

After each sale, a report is made. This report shows how much tea was sold and for what prices. Everyone involved can see this information.

See also

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