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China’s Tea Export marketing push
China’s $111.5 billion domestic tea market dwarfs all others, but exports have declined over the past two years and are still flat midway through 2024.
In response, China has stepped up its marketing to stimulate demand and lowered prices to maintain volume growth.
Volume growth has recovered after the blazing sun scorched central China's tea producing regions in four successive heat waves in 2023, lowering yields and the quality of the summer harvest.
A 4.8% decline in the compound annual growth rate (CAGR) of overall value sales for tea from 2024 to 2027 is estimated and overall sales will reach $72.5 billion in 2027.
Export volume is up a modest 1.2% overall through April 2024. Green tea exports are expanding at 5.6%. However, prices for green tea are down 17.4% compared to 2023 and $3.60 per kilo for April 2024.
Exports of black tea are soaring as volume rose 21.3% over the same period last year.
Source: STiR Coffee & Tea (Extracts), Courtesy: Tea Exporters’ Association Sri Lanka
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Forbes & Walker was set up in 1881 as a partnership between James Forbes and Chapmen Walker. Although there is no actual record of the date on which it was established the very first cash book, still in the possession of the Finance Director, indicates the brokerages were earned from 1st August 1881. In Sir Thomas Villiers' book “Mercantile Lore” the date of establishment of Forbes & Walker has been put down Read More...