BB underscores branding of local teas

FT ONLINE

The central bank of Bangladesh has underscored branding of local varieties of tea to access the global market.

“Branding is a vital factor for marketing the product in the international market,” said a report prepared by the Bangladesh Bank (BB).

Titled as ‘Quarterly Review on Tea: July-September FY20’ it added: “Bangladeshi tea is rich in taste and flavour. To improve the quality of tea, Bangladesh Tea Board has planned to build a Bangladeshi Brand.”

The quarterly report, posted in the central bank’s website recently, also mentioned that in FY19, some 90.68 million kg of tea were produced in the country of which 79.74 million kg was consumed and 0.64 million kg was exported.

Export earnings from tea has increased and stood at US$0.67 million (Tk 56.19 million) in the first quarter (July-September) of the current fiscal year.

It was 18.75 percent higher than the previous quarter and 2.21 percent lower than the same quarter of the previous fiscal year, added the central bank report.

More than 80 percent of Bangladesh’s tea was exported to USA, UAE and Pakistan.