Fair Trade: Theory And Application On The Global Tea Trade
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This thesis explores impact of Fair Trade certification on the tea industry, highlighting its role in enhancing economic stability, social welfare as well asd environmental sustainability through literature reviews, case studies, and consumer surveys. A public survey was conducted online using Google Forms and findings were compared with literature review. Economically, Fair Trade ensures minimum pricing and premium payments, offering protection and empowerment to producers by stabilizing income and funding community development projects. Socially, it prioritizes decent working conditions and community development, increasing consumer awareness and willingness to support ethical practices. Environmentally, Fair Trade encourages sustainable agriculture to mitigate environmental degradation and adapt to climate challenges. However, study identifies challenges such as consumer awareness gaps and uneven benefits distribution among producers, suggesting areas for further improvement in Fair Trade practices.