IBS BUSINESS REVIEW

The Tea Industry of Bangladesh

A Synopsis of Its Problems-, Prospects and Export Potentialities
Md. Yousuf Kamal*
Md. Nazim Uddin Bhuiyan**
Abstract :
As a developing country, we have very few export items. Among those, tea is a.
legend export item. The tea industry of Bangladesh not only provides a hug9
amount of foreign currency, but also provides a lot of employment. Besides, the tea
industry satisfies our local needs. The study was conducted to identify the problemS
faced by the tea industry of Bangladesh and be provide recommendations to solve
the problems. The study also analyzes the production export data of the induetry
and its future prospect and contribution to the economic development of country.

Introduction :
Tea is one of the major agro-based, labor intensive, export oriented
industries of Bangladesh, and it plays a vital role in our economy. Tea haS
been grown in Bangladesh for over 145 years, and the main growing area
lies to the coast of the Ganges,Jamuna flood plains bordering India. The
first commercial tea estate ws established at Melnicherra, SO-let in 18571.
Thereafter, other tea estates were gradually established.

Tea is the most popular drink in the present day world. Tea is a leaf of-the
tea 'plant. It is a cash crop of Bangladesh. The tea plant is an evergreen
shrub. Tea is an important item in our export and it earns a fair amount of
foreign exchange for our country. Now in Bangladesh, there are a total of.:
158 tea gardens. The yearly tea production in Bangladesh, is
approximately 47 million kgs. and export is approximately 35 million kgs.,-
tea each year after meeting the internal demand.2

Objectives of the research :

The following are the major objectives of this paper :
1. To know the proper condition of productions & export of tea industry of
Bangladesh.
2. To find out the problems faced by the tea industry of Bangladesh.
3. To find out the probable solution of the problem faced by tea industry of
Bangladesh.
1 Ahmed Farid, "Glimpses of Bangladesh Tea Industry", Special Bulletin, Bangladesh Tea Board,
1984, PI, Chittagong, Bangladesh
2 Economic Trend, Statistics Department, Bangladesh Bank, Volume XXVIII no 2, February 2003,

P.27, Dhaka-Bangladesh
Lecturer. Department of Accounting and information Systems, University of Dhaka, Dhaka-1000
'" Associate Professor, Department of Accounting and information Systems, University of Dhaka, Dhaka-1000

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IBS BUSINESS REVIEW

Methodology :
In this work relevant data were collected from the published records.
Documentary analysis required a thorough probe into various reports,
Journals, manuals and annual reports. Some of those documents were '
collcted from the relevant authorities.
Limitations :
The major limitation of such kind of work is lack of physical observation. We
do believe that if we physically had visited some of the tea estates, then We
would have been able to enrich the work more than as was done. The
works may have other shortcomings. Further practical survey many reveal
more important information.

Literature Review :
In the International Code of Botanical Nomenclature, the name for tea plant
is Camellia Sinensis 0 0. Kuntz. The generic name Camellia is derived
from Kamel or Camellus. Tea is made from the young leaves and unbroken
leaf buds of tea plants. After plucking the leaves, these are dried up,
brodken and processed and then brewed up. Liquor of these brewed
leaves is taken as drink. Tea has been cultivated from many centuries.
Of historical note tea is nearly 5,000 years old and was discovered, as
legend has it, in 2737 B.C. by a Chinese Emperor, Shen Nong, as, when
some tea leaves accidentally blew into a pot of boiling water3. In the 1600's
tea became popular throughout Europe and the American colonies. Since
colonial days tea has played a role in American culture and customs.
During this century, two major American contributions to the tea industry
occurred. In 1904, iced tea was created at the world's fair in St. Louis, and
in 1908, Thomas Sullivan of New York developed the concept of tea in a
bag.'

Tea breaks down into three basic types: Black, Green & Oolong. In the
U.S.A over 90% of the tea consumed is black tea, which has been fully
exidized or fermented and yields a hearty flavored, amber brew. Some of
the popular black teas include English Breakfast, Darjeeling and Orange
Peoke. Green tea skips the oxidizing steps. It has a more delicate taste and
is light green/golden in color. Green tea, a staple in the orient, is gaining
popularity in the USA due to the fact to recent scientific studies linking
green tea drinking to have reduced cancer risk. Oolong tea, popular in
China, is partly oxidized and is cross between black and green tea in color
& taste. While flavored teas evolve from these three basic teas, herbal teas
contain no true tea leaves. Herbal and 'medicinal' teas are created from the
flower berries, peels, seeds, leaves & roots of many different plants.

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Tea is a prestigious and century old traditional plantation industry of

Bangladesh.lt is a steady foreign exchange earner. Tea cultivation in
Bangladesh started in 1840 in Chittagong as pilot cultivation with some
China plants from Sibpur, Calcutta botanical garden and some seeds front
Asam, India5. The pioneer garden no longer exists. The first tea garden in
Bangladesh area was established by the then British rulers in 1857 at
Malnicherra of Sylhet districts in the eastern part of the country. Currently
158 tea gardens are operating in 120,000 acres of land producing about 47
million kgs of tea per year. The tea gardens are concentrated mainly in
greater Sylhet district; about 134 gardens are there and the distribution is
as 20 in Sylhet (new), 91 in Moulvibazar, 23 is Hobigonj. About 90% of tea
are produced in these districts. Among the remaining 24 estates, 22
estates are located in Chittagong & 1 in Rangamati and. Brhamonb4ria
each. The approximate annual export income from tea industry is 117 crore
TO. Bangladeshi tea is exported to about 25 to 26 countries of the world.
The major importers are Pakistan, Iran, UK, Oman, UAE, Afghanistan, East
European countries and so on.
There are three types of ownership in tea garden; these are -
Sterling company 26
National tea company 14
Proprietorshiop & Bangladesh Tea Board 118
158
The total area of tea estates in Bangladesh is.2,80,710 acres. Out of which
120,000 acres are now under tea plantation.' Of this, about 90% are in
greater Sylhet district. On an average 90,000 workers are employed daily
in the tea estates. About four Lac of individuals are dependent on it for their
livelihood. Total number of wage earners dependent on tea plantation
which varies within the range of 350 to 450 thousands.
The overall responsibility for the management of a tea estate and its factory
is vested with the garden manager who is assisted by the assistant
managers. Supervisory staff, locally called 'Tilla Babus' serves them8. The
labor force working at the tea garden are supervised by labor sarders who
controls a team of 50-100 workers. Where companies owns a group of
gardens, a group superintendent is appointed for the overall supervision' of
the gardens under the group.
3.Internet, web site.
4.Internet. web site. 6. Ahmed Farid, "Glimpses of Bangladesh Tea Industry", Special. Bulletin,Bangladesh
Tea Board, 1984, P.1, Chittagong. Bangladesh
6. Bangladesh Bank Bulletin, April-June 2001, P.XXIV, Bangladesh, Dhaka, Bangladesh.
7. Economic Trend, Statistics Department. Bangladesh Bank, Volume XXVIII no. 2, February 2003,
P.27, Dhaka, Bangladesh

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The government decision to enable the mass of connecting public to participate

in the ownership of nine Tea estates which were owned and managed by the
government, the National Tea Company Ltd. was incorporated with the
registrar of joint stock companies in 1978 with an authorized capital of Tk. 5
crores divided into 5,00.000 ordinary shares of Tk, 100 each9. Thus it occupies
a unique position of being the first of its kind in the field of joint ownership of
public and private interest in tea sector. The company owned initially 9 tea
gardens later 5 more gardens have been added, to the fleet by acquisition to
make the number 14. Later, Bangladesh Tea Research Institute (BTRI) was
established. It is the scientific institute of Bangladesh tea board. The role of
BTRI is to investigate and innovate methodologies for solution of problems
relating to growing and manufacturring of tea.
At present Bangladeshi tea has gained reputation in the international market in
respect of color, strength & taste. Contributions for such achievements can be
attributed to some extent to the Bangladesh Tea Rehabilitation Project (BTRP),
which makes modernization & rehabilitation of the tea processing factories etc.
Bangladesh tea industry and its trade is mainly in the private sector, owners
(agencies of tea companies) control directly their production & quality. Tea
traders & exporters who are registered with the tea board and the Tea Traders
Association operate tea trading and it's exports. Generally, the producers offer
their tea through Chittagong & London auctions. There is close cooperation
between the producers, Brokers, traders & exporters. For regulation & control
of tea production and its trade, Bangladesh Tea Board was constituted by the
government in 1951 and was reconstitued in 197710.
Data Analysis :
Earnings from tea stood at Tk. 116.32 crores ($ 21.58 million) durng 2000-
2001. This was 28.1% lower than the target of $ 30.00 million and compared
with Tk. 88.62 croers ($ 17.69 million) during the preceding year. The export
volume of tea increased by 38.1%, while average unit price (in dollar terms)
decreased by 11.7% during 2000-2001 compared to those in the preceding
year. The target of production of tea during 2000-2001 was fixed at 55.00
million kgs. Total availability of tea during 2000-01 was estimated at 65.76
million kgs. Including the last year's carryover of 10.76 million kgs, production
of tea during April-June 2001 stood at 14.97 million kgs, as compared to 13.18
million kgs. during the corresponding quarter of the preceding year. An
aggregate quantity of 7.27 million kgs of tea was sold at an average price of
Tk. 60.85 per kg. at the auctions held in Chittagong during the quarter under
report as compared to 12.01 million kgs sold at an average price of Tk. 59.13
per kg in the previous quarter and 6.77 million kgs sold at an average price of
Tk. 56.78 per kgs during the corresponding quarter of the preceding year.
8. Ahmed Farid, "Glimpses of Bangladesh Tea Industry". Special Bulletin, Bangladesh Tea Board, 1984,
P.2. Chittagong, Bangladosh.
9. Khan. Mr, Arneeru Zeman. National Tea Company Ltd., Bureau of Business Research. Univesify of
Dhaka, P.2, Dhaka, Bangladesh.
10. Ahmed Farid, "Glimpses of Bauglndsh lea Industry". Special Bulletin, Bangladesh Tea Board, 1984, P.7,
Chittagong, Bangladesh.

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 IBS BUSINESS REVIEW

Export of tea during Apirl-June 2001 stood at 0.87 million kgs, valued at Tk.
to 6.33 crores as compared to 3.84 million kgs valued at Tk. 26.4 crores in the
le previous quarter and 1.90 million kgs valued at Tk. 12.23 crores during the
5 corresponding quarter of the preceding year 11.
During the year 2000-2001, the total loan for tea production for different
of banks was amounting to Tk. 229.74 crores that is an increment of 11.09%
)a
over the previous year12.
to
Table # 01 : Tea Production
Df No. of gardens
Is District Area (hector) Production Lac kgs
_
Sylhet 20 6025 6 1

in. Mouluvi Bazar 91 27230 277

Habigonj 23 6882 70
Chittagong 22 6584 66
Rangamati 1 300
Braman Baria 1 315
Total 158 47336 480

Source : Bangladesh Bureau Of Statistic, Bangladesh Economic Association, 2001

Bangladesh export Tea both in Bulk and in packets. ($ And % form)
Table # 02 : Tea Processing
Tea in bulk Tea in packets

..............Year 2000 2001

- 1999 2000 2000 2001
- - 1999 2000
-

Country
Pakistan 9320 48% 5404 38%
Afganistan 4904 25.4% 405 2%
J UK 17.15 8.9% 546 3.5%
Iran 11.24 5.83 1222 72% 14 .61% Ill
3
Russia 548 2.8% 679 4% 278 12% 11111111
Kazakistan 349 1.8% 3135 18% . 1519 66.3% ME
3 Kenya 345 11115111111 85 .5% 300 13% 445 ME
UAE 1 66%
Oman 1:8%
1111111111111111111111111 100 4.3% 26 3.8%
r KSA 86 16 4 3.5% NEI
11111111.11111111111111111 .
f (
Source Bang adesh Bureau of statistics, Bangladesh Economic Association, 2001:
1, 12. Annual Report 2000-2001, Bangladesh Bank P.48, Dhaka, Bangladesh

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Table # 03 : Tea Export and Production data :

Production Export of rea
Export Tk.
Year in '000Areainacres Average Qt.
(in crores)
'000 tons Tk. per kg.
1991-92 187 45 118 58
1992-93 147 49 118 53
1993-94 175 51 118 47
1994-95
1995-96
13 52
48
118
119
49
45
1996 97- 150 119 47
1997-98 207 120 52
1998-99 150 56 120 67
1999-2000 86 46 120 85

111111MI 67
2000-2001 119
120
Source : Statistics Department, Bangladesh Bank, and Bangladesh Bureau
of statistics Dhaka, Bangladesh
Note : Export data are on f.o.b. basis.
Table # 04 : Per kg price of tea and total sales in different quarters :

Period Per kg Total Sold (million kg)

April-June 2001 Tk. 60.85 7.27 million
[
January-March 2001 59.13 12.01 million
April-June 2000 56.78 _.) 6.77 million

Table # 05 : Tea Export (in million kg and crore of taka) in different quarters :
Period Export (million kg) Total (Crores)
April-June 2001 0.87 6.33
January-March 2001 3.84 26.49
April June 2000
- 1.90
Source : Bangladesh Bank Bulletion, April June 2001, P.XX, Bangladesh Bank,
-

Dhaka, Bangladesh

t.,Bangladesh Bank Bulletin, April-June 2001, P.XX, Bangladesh Bank, Dhaka, Bangladesh
12
.Annual Report 2000-2001, Bangladesh Bank, P.48, Dhaka, Bangladesh

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Table # 06 : Performance of tea industry (Actual and projection), Figures are in

million kgs.

19992000 2000-2001
Particularly Actual Projections
1. Carry over . 10.76 8.05
2. Production 55.00 50.60
3. Total availability (1+2) 65.76 58. 65
4. Domestic consumption 36 35.28
5. Exports :
a) Q uant it y 20 12.61
b) Value (in crore tk.) 153.00 82.57
c) Average Export price (Tk. per Kg) 76.50 65.48
6. Closing Stock 976 10.76
7. Actual production during April-June 14.97 13.18
8. (a) Actual exports (During April-June 2001 .87 1.90
(b) Vlue of exports (in crores Tk.)
(during April-June) 6.33 12.23
(c) Average export price (Tk. kg.) 72.76 64.37

Source : Bangladesh Tea Board, Bangladesh Bank Bulletin, April-June 2001,

P.13, Bangladesh Bank, Dhaka, Bangladesh

Channel of Distribution

in the field of international trading, tea is mostly traded in open conditioonp.

Although at present, selling of value added packaged tea did not see much
success. At present Sri Lanka, India and Bangladesh are exporting
packabed tea at 10%, 8% and 5% respectively. The steps involved frotn
production to final consumption of tea are shown by the following graph.

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Local level Export level

Mixing
Packaging
Branding Selling
.................... Consumption
Production Ownership Marketing Center

It may be mentioned here that all dimensions represented in the graph

Agency house Multinational Co.

Brook bond 41. Grocery
Starling Co. James
Ffinely Lipton/Unilever
Tea Carden

LionsfTitley
Auctovicastil .
Super
Mg1=11111

Duncan brothers V Associates shop

London Cooperative Tea
=
Auction 1411
Society
National Re-
Center Tifo Associates export
M.1.1nn111111.
Ownership
Govt. or
non-govt.
m
ay
not be applicable for a particular country. In Bangladesh Starling company
are running side by side with tea gardens owned by individuals. By using
auction system in tea marketing there exists several distribution channels
for supplying tea. Firstly, The quanlity of tea to be auctioned is controlled
to keep the supply and price stable. In internal levels, the total supply and
demand of the tea is not considered. Secondly, economically weak
developing countries are often compelled to sell a handsome amount of tea
for earning foreign currency. So, there exists deprivation of profitable
selling. Thirdly, the organization of auction market is as such that it is
difficult to create open market competition. Because it is seen that the lion
share of the auction market is dependent on 6 international companies. So,
for creating open market competition the number of buyers and sellers
are bargaining and thus competition should be in equilibrium.
However, in the field of tea it absent.

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The influence of multinational companies in tea marketing in world markets

is similarly applicable to Bangladesh. Out of total 158 tea gardens Starling
Company in Bangladesh owns 26. Though Starling Company has the 19%
share in respect to the total 'number but it produces 50% of the total tea in
Bangladesh.

Problems & Recommendations :

The Cultivation of tea has been continuing in a vast area of Bangladesh
traditionally. Bangladesh exports about 70-80% of her total production of
tea It is needless to state the importance of tea industry in our national
economy, though the quanlity of our export is very negligible in the context
of world demand. Although tea is a prospective field for Bangladesh by
which we can earn huge amount of foreign currency, there are many
problems relating to its production, distribution and marketing. Such
problems are required to be analyzed in the context of the international
trades & commerce.

The major probelms are as follows :

1 Oligopolistic control of market : Tea is such an agricultural commodity
where the producers do not have any control on selling prices.
Because it is auction centered, where tea is sold through auction and
highest bidder gets the bid. Besides the global tea market is controlled
by a few multinational companies. It is becasue of their decision, tea
sometimes gets higher price, some times low, consequently, the
planters have no control over the price, even if it does not cover their
cost of production. Therefore, the planters are not serious in
developing the tea estates. As for the oligopolistic market condition
new companies cannot enter the market, which is one of the majors
obstacles that hinders the expansion of tea industry.
Lack of Brand indentity : Those who are advanced in brand popularity
can expand their market. in fact, there is no brand identity of
Bangladeshi tea. The brands of India & Sri Lanka are famous all over
the world. The absence of sufficient brand identity hampers the
marketing of tea in the foreign market. It is possible only for efficient
branded institute to extend the field of tea in world market due to the
individuality of mixing, packaging and marketing of tea. It means that
the image ,is involved with the name of those marketing institutes,
though these are the products of India, Bangladesh & Sri Lanka. Some
multinational cmpanies are availing the full advantage of it, because
the producing countires can not bear this big responsibility.

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3. Decreasing market price : The price of our tea is decreasing in the

international marekt due to low quality and lack of modern technology.
This decreasing price discourages the producers to produce and sell
quality tea in the market.
4. Increasing production cost : The cost of tea manufacturing has
increased significantly in the last decade due to the decrease in
market price, increase in labor cost, lack of sufficient infrastructure and
the like. Increasing cost hampers the growth of tea. For this, Bangladesh
govt. gives plenty of subsidies to adjust the export price of tea.
5. Product quality : Product quality is very much important for any product
to be marketed both in the home and abroad. in this regard, quality of
Bangladeshi tea is not as good as that of India, Sri Lanka & Brazil,
since the flavor or fragrance of tea is mainly considered to determine
the quality. The color of our tea is very good, not the flavors. Moreover,
as per the expert opinion, its quality is being influenced due to the
faulty processing. For this qualitative problem, Bangladesh can't make
a strong position in international market with profit.
6. Mixing problems: Mixing of tea is one of the major factors in tea
market. Special efficiency is required for this. Bangladesh have only a
few of this type of mixing machine, which is considered as a great
obstacle. Besides, the businessmen of our country are less interested
to build up this type of mixing institute. Therefore, the mixing institutes
have not developed so much as needed.
7. Nutural causes : Irregular rainfall, drought, etc. reduced the production
of quality tea. Due to rainlessness or droughts Sometimes new plants
can't be planted.
8. Lack of good quality tea, chest Normally tea chests are made light
and odor free wood. Day by day it becomes difficult to get that
particular type of wood. This is worth mentioning that due to shortage
of quality wood, quality of tea chests in Bangladesh deteriorates day
by day. So the manufacturers are compelled to use the inferior quality
of wood resulting in substandard quality Chester. Such chests have
their own shortcomings. They help tea to absorb bad smell and chesty
flavor, etc. Further, they may be broken down while in transit resulting
in loss of both the quality and quantity of tea.
9. Lack of transportation facility : In Bangladesh, after the production of
.tea in garden, those are sent to Chittagong for sale in the Chittagong
auction center. For this reason all tea produced in Bangladesh have to
be transported to Chittagong. These are transported either by trucks
or by railway wagons. Bangladesh railway can't provide sufficient

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wagons as demanded by the planters. These create delay in shipment,

on the other hand transportation through trucks costs more and also
trucks are not easily available at the time of need. Moreover, there are
many tea gardens, situated in remote inaccessible areas, which
creates a great problem in proper shipping & transporting tea to the
market.
10. Interruption in the supply of electricity & gas : Tea leaves are brought
from the gardens to the factory for making finished tea. Quality of tea
largely depends on appropriate firing. In factories, sometimes fire
wood is used to heat the tea leaves because of lack of gas and
electricity, resulting in quality deterioration of tea and increase in cost
of production.
11. Labor unrest : Frequent labor unrest is another problem of the tea
estates. Earlier, there were no trade unions, but at present trade
unions have been formed in the tea estates. They keep pressure on
the management to realize their just or unjust demand.
12. Lack of skilled labor : To process tea in better quality from, skilled labor
is necessary. But we have not such skilled manpower and as a result
the quality of our tea is not good.
13. Uncertain situation : The accident in gas exploration by the Oxidental
Company in mid June 1997 at the drilling site at Maguricherra has left
vast tea areas of Phalbari Tea Estaes partially or totally damaged. Gas
and electricity to most estates at Manu-Doloi valley have been shut
down resulting in the colsure of many tea factories whose combined
production in 1996 was about. 7.5 million kgs. These states have been
arranged to divert their green tea leaf to other factories. Factories
receiving green leaf are therefore over-burdened resulting in showing
down a decline in the overall quality of tea. Fire continued for an
unusually long time one both the road and railway connections with
Syihet remained disconnected hampering tea transporation.
14. O t h e r p r o b l e m s :
1.3 Lack of adequate packing.& ware housing facilities,
Lack of sufficient capital.
U s e o f tra d i ti o n a l m ac h i n e ry & e q u i p m en t, wh ich r educed t he
productivity of industrial unit.
Lack of good management.
Lack of proper fertilizer & insecticides.
Lack of appropriate plans & programs.
Lack of proper govt. support, etc.

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Suggestions :
To remove the barriers of the Tea Industry both Govt. and private sectors
such as owners of tea gardens should and have to play an important role.
T o ensur e t he g r owt h and de velo pm ent of t his indust r y, som e
recommendations & suggestions are given below :

1. Development of quality : As the quality of Bangladeshi tea is poor,

producers should concentrate on developing its quality. If we want to
capture a good position in the world market, there is no alternative of
developing quality and for quality development every person involved
in the sector should be more dedicated.

2. Capitalizing the advantage of attractive color : It is agrred that

Bangladeshi tea does not have flavor like other exporting countries.
But it has got very attractive color for which there are plenty of
demands of Bangladeshi tea to the importers. So we have to make
efforts to continue it by capitalizing this advantages.

3. Formation of Forums or Associations : To ensure the entrance of new

companies and continuous development of quality, more & more
forums and associations of persons related to tea industry should be
formed. These forums and associations can easily encourage
producers by introducing reward systems. Formation of trade block
can help to capture more market share.

5. Use .of modern technology : It is very important to use modern

technology to develop the quality of any product and compete with
others in the market. So, to achieve a respectable position in the
international market using modern technologies and technical know-
how is a must.

6. Infrstructure development : As tea gardens are located in the Hill Tracts,

there should be sufficient communication facilities available. Govt. &
Private sector should work together to develop the roads and rail facilities
which is essential for effective marketing of tea. Banking facilities &
auction facilities should be enriched for the expansion of Tea Industry.

7. Mixing at international standard : The mixing functions can be

arranged as per the international demand. For this govt. assistance
has to be extended. The mixing activities should be consistent with
international trade & commerce.

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8. Govt. assistance : Govt. has a very significant role to play for the
development of the tea industry. Govt. can encourage the producers
and distributors by providing various offcers like tax holidays, lower tax
or Zero tariff in export, etc. The Govt. should take the following
strategies to tea export :
Simplification of export procedures and strengthening export led
cooperation through reducing regulatory role of the govt.

i) Rationalization of the value of taka to make the export trade. more

attractive.

ii) Creation of an export promotion fund (EPF) for strengthening the tea
export.

iii) Encouraging the establishment of backward linkage industry.

iv) Expansion & consolidation of existing markets and creation of new

market.

v) Allowing import of high quality foundation tea for blending and

establishing the brand name of Bangladeshi tea through marketing.

vi) Taking measures to improve quality, increase production and expand

market of exportable tea.

vii) Providing appropriate financing facilities.

viii) Creating product development councils for important products like tea.
ix) Developing and expanding infrastructual facilities for exporting tea.

Conclusion
Tea not only earns foreign currency, but also provides employment. It is
expected that the government & other relevant bodies should pay more
attentions to solve the problems of these treasure gardens. Further it is
also the responsibility of the tea planters and other concerned parties to
take full use of the facilities provided by the governmental agencies. They
should also point out other problems faced by them regarding production
and marketing of tea to the authorities so that suitable remedial measures
may be taken.

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ti

Bibliography :

1. Khan. Ameeruzzaman. "National Tea Company", Bureau of Business

research, Dhaka University, Dhaka, Bangladesh.
2. Ahmed. Farid. "Glimpses of Bangladesh Tea Industry", Bangladesh
Tea Board, Chittagong, Bangladesh.

3. Economic Trend-Statistics department, Bangladesh Bank, Volume

XXVIII No. 2, February 2003.
4. Annual Report 2000-2001, Bangladesh Bank, Dhaka, Bangladesh,

5. Annual Reprt 2001, Bangladesh Economic Association, Dhaka,

Bangladesh.

Bangladesh Bureau of Statitics (BBS), Dhaka, Bangladesh.

7. Bangladesh Bank Bulletin, April-June 2001, Bangladesh Bank, Dhaka,
Bangladesh.
8. Bangladesh Tea Board, Chittagong, Bangladesh.

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