Data from the China Tea Marketing Agency and the US Census Bureau (GATS) was recently published regarding China exports and US imports of tea for August 2023.
CHINA EXPORTS
HIGHLIGHTS INCLUDE
August total export volume DECREASED 4.1% year on year
YTD total export volume is DOWN 4% over 2022
GREEN tea accounted for 83% of total export volume
Average prices DECREASED 12.3% over the previous August to $5.05/kg
Exports of GREEN tea volume DECREASED 4% over August 2022
Exports of BLACK tea volume DECREASED 0.6% over the same time last year
US IMPORTS
HIGHLIGHTS INCLUDE
Average price for GLOBAL imports was $4.73/kg, UP 24.7% over the previous August
YTD total China imports are DOWN 37.3% over 2022
Average price for CHINA imports was $5.02/kg, UP 16.4% over August 2022
34.8% of all GREEN tea import (volume) was from China, but only 9.7% of VALUE
25.3% of the month’s US ORGANIC tea import volume was from China
IF 2021 import volumes can be taken as an average, it looks as if a balancing trend has been in effect. Lower imports in May-July 2023 may be due to oversupply caused by above average imports in May-July 2022.
