The most recent data from the China Tea Marketing Association and the US Census Bureau (GATS) was recently published regarding China exports and US imports of tea for December 2020.
- Average price for December was noticeably higher, at $6.47/kg. The average price for 2020 was $5.84 per kg.
- It is unclear what drove this spike, but we do know that pu’er exports accounted for total 1% of annual exports and saw a 27% increase in export volume, while wulong and scented teas (like jasmine green) saw declines for the year.
- 2020 resulted in an over 4% decrease in exports for the year. The last time China reported an annual decline in tea exports was 2014.
- 2020 export value increased approximately 0.9% over the previous year.
- Imports from China were down 37.1% from the previous December.
- 2020 imports from China decreased by 29.4% compared to a drop of 10.4% for combined global totals.
- Annual black tea imports from China decreased by 38.3% and green tea imports dropped 19.6%.
Firsd Tea and other tea importers continue to see shipping delays created by Shipageddon. These impacts are affecting both pricing and delivery schedules. Please contact your Firsd Tea representative to learn more.