October Tea Report: China Exports & US Imports

October 2020 trade data was recently published by the China Tea Marketing Association and the US Census Bureau,

CHINA EXPORTS

• 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 HERE and 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.