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The International Tea Cartel During The Great Depression, 1929–1933

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  • Gupta, Bishnupriya

Abstract

An international sample of 349 British-owned firms is analyzed to test the effectiveness of the International Tea Agreements of 1930 and 1933. Although the agreements reduced output overall, in 1930 there were significant regional differences in the extent of compliance, with firms in Eastern India reducing output more than did firms in Ceylon. These differences can be attributed to regional differences in organizational structure. Archival evidence suggests that the breakdown of collusion in 1931 and 1932 was due to a bargaining conflict between established producers in India and Ceylon and the newer plantations of Java and Sumatra.Producers of commodities like wheat and sugar may envy the facility with which the tea growing industry obtained a 30 percent rise in average tea prices and a 90 percent enhancement of tea share values—all within the space of a little more than six months.The Economist, 26 August 1933

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  • Gupta, Bishnupriya, 2001. "The International Tea Cartel During The Great Depression, 1929–1933," The Journal of Economic History, Cambridge University Press, vol. 61(1), pages 144-159, March.
    • Handle: RePEc:cup:jechis:v:61:y:2001:i:01:p:144-159_02
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    Cited by:

    1. Mitsuru Igami, 2015. "Market Power in International Commodity Trade: The Case of Coffee," Journal of Industrial Economics, Wiley Blackwell, vol. 63(2), pages 225-248, June.
    2. Vellore Arthi & Markus Lampe & Ashwin Nair & Kevin Hjortshøj, 2023. "Deliberate Surrender? The Impact of Interwar Indian Protection," The Economic Journal, Royal Economic Society, vol. 134(657), pages 23-47.
    3. Prokop, Paweł, 2018. "Tea plantations as a driving force of long-term land use and population changes in the Eastern Himalayan piedmont," Land Use Policy, Elsevier, vol. 77(C), pages 51-62.
    4. John M. Connor, 2003. "Private International Cartels: Effectiveness, Welfare, and Anticartel Enforcement," Working Papers 03-12, Purdue University, College of Agriculture, Department of Agricultural Economics.
    5. Vellore Arthi & Markus Lampe & Ashwin Nair & Kevin Hjortshøj O'Rourke, 2020. "The Impact of Interwar Protection: Evidence from India," Oxford Economic and Social History Working Papers _180, University of Oxford, Department of Economics.
    6. Dye, Alan & Sicotte, Richard, 2006. "How brinkmanship saved Chadbourne: Credibility and the International Sugar Agreement of 1931," Explorations in Economic History, Elsevier, vol. 43(2), pages 223-256, April.
    7. Perri 6 & Eva Heims & Martha Prevezer, 2023. "How did international economic regulation survive the last period of deglobalization?," Regulation & Governance, John Wiley & Sons, vol. 17(1), pages 272-289, January.

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