Export volumes are UP 4.7% over the previous October
Exports volumes are DOWN 3.2% year on year through October
Export total values are DOWN over 3% compared to previous October
Average prices for the month were $5.44 per kg, DOWN nearly 8% over the previous October
Jan-Oct green tea exports were DOWN 1.6% over the same period last year
Jan-Oct black tea exports were DOWN 16.1% over the same period last year
US IMPORTS
HS codes with the highest volumes saw at least a 22% price increase over the previous October
China green tea imports were DOWN 6.8% over the previous October
China black tea imports were DOWN 8% over the previous October
Jan-Oct China black tea imports are DOWN 37.5% over the previous period
Jan-Oct China green tea imports are DOWN 18.8% over the previous period
SHIPAGEDDON IMPACT?
Firsd Tea reported HEREand HERE about the October Chinese National Day Holiday initiating a period of “Shipageddon” projected to continue until the middle of December or beyond. Containers of tea were dropped from shipments and left at Chinese ports for days or (in some cases) weeks awaiting the next available ocean carrier. At this point, it is difficult to determine how much of this lag will affect US import numbers. Firsd Tea continues to monitor the situation, including re-supplying our US inventory with recently arrived containers and further containers currently on the water.
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