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.
- 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
- 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.