STiR coffee and tea magazine

18 STiR coffee and tea | 2024 Issue 5 (October / November) Bangladesh Set for Record High Output of Tea Anxious tea traders in Bangladesh have signaled a return to normal after weeks of deadly protests. On Aug. 5, Prime Minister Sheikh Hasina resigned and fled the country, defusing deadly protests in Dhaka that began in June and led to the deaths of an estimated 500 people, mainly students. A peaceful transition of power is underway, with Nobel Peace Prize recipient Muhammad Yunus named interim head of a transitional Bangladesh government. Cyrus Anushirvan Faizi, a tea planter and consultant, writes, "This transition has affected many industries, including the tea market, which is currently struggling. The auction prices for tea have dropped; for instance, before all this turmoil, we used to get Tk. 290, but now it's down to Tk. 250. As a result, many estates have resorted to selling on the black market, which is always risky and rarely yields good prices." "The interim government has only been in place for a month, and their focus is currently on the high export-oriented market. We hope that the tea industry will eventually gain their attention. Despite the challenges, we remain optimistic." he said. Md. Shaidur Rahman, managing director at Indigo Brokers Ltd., writes that he was relieved to see a new government formed in Bangladesh. He explains, "Tea in Bangladesh is not just an industry; it is a culture. So, everyone takes care to prevent any political party from entering the tea industry." Bangladesh Tea Board Chairman Maj. General Ashraful Islam, a civil engineer, has chaired the board since July 2021, a period of growth during which the country's tea production finally met the long-pursued goal of exceeding domestic demand. Bangladesh harvested 103 million kilos last year, surpassing the estimated 95 million kilos consumed. The board hopes to harvest 108 million kilos. Tea exports grew 33% to 1 million kilos through May. Bangladesh has registered 168 large estates and an estimated 8,000 smallholder tea gardens. Export destinations number 14 coun- tries. The United States and the United Arab Emirates are the top two destinations, importing about $1 million each. Exports totaled 780,000 kilos and were valued at $1.14 million in 2023, down 57% compared to the previous year. Bangladesh's tea exports were valued at $2.7 million in 2022, according to State Minister for Commerce Ahsanul Islam Titu. Now that the country's growers have exceed- ed production targets, Gen. Islam told the Dhaka Tribune, "improving the quality of tea is necessary if exports are to be competitive globally." Rahman said "Bangladesh has exported more tea in this financial year than in the last five years. Everyone wants to work in the tea industry and keep this trend going. Hopefully, the old market in the outer world will come back." By Dan Bolton The 80-kilometer Teknaf Marine Drive along the Bay of Bengal in Bangladesh is the world's longest marine drive. SHAKE A LEG * *SYNONYM: STiR, hurry, get moving, hop to it... Don't Miss a Single STiR ring Issue of the World's Leading Industry Magazine for Coffee and Tea. SHAKE A LEG a paid subscription to STiR (coffee and tea magazine) | Visit stir-tea-coffee.com/subscribe | Email malisa@stir-tea-coffee.com w w w. s t i r - t e a - c o ff e e . c o m w w w. s t i r - t e a - c o ff e e . c o m Tea Report

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