- China global tea exports declined slightly versus the previous Jan-Nov, with a 3% overall dip in volume
- Shares of black and green tea exports remained relatively steady
- Average prices per kg of exported tea were regularly above the 2019 average of $5.51 USD/kg
- China green tea imports to the US are down 19.3% by quantity over the previous (Jan-Nov) period
- China black tea imports to US are down 37.3% in quantity over the previous (Jan-Nov) period
It is worth noting that the percentage of decline in Chinese tea imports is noticeably greater than declines in US imports of overall global totals
Some of the major contributors to decline include:
1. Tariff– US-Sino Trade War raised tariffs on tea and other goods from China. The tariff rate on tea went from 0% to 15%, then a Phase One Agreement reduced the rate to 7.5% effective Valentines Day 2020.
2. Covid global pandemic
3. Shipageddon effects that began to be felt in October.