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Tea exports in 2024 increased to 374,100 metric tons,generating $1.42 billion in revenue —a decline of 18.4% compared to 2023, when tea exports totalled $1.74billion.
The average export price per kilo declined sharply by 19.8% to $3.80 per kilo in 2024. China held a 14.2% revenue share of the global tea market in 2023. That share increased slightly in 2024to 14.3%, indicating the stability of China’s position as the top tea grower and second-largest tea exporter by volume behind Kenya, which mainly exports black tea.
Green tea (excluding white) totalled 323,800 metric tons and generated $1.07 billion in revenue. Black tea accounted for 6.6%, or 24,758 metric tons, generating $171 million, a 35% decrease compared to the 2023 export value and 14.8% below the 2023 value of $267 million.
White tea, a type of green tea categorized separately in trade, was the most expensive tea sold by China last year, averaging $13 per kilo on a volume of 455 metric tons.
Africa remains China ’s most important tea export destination, both in terms of volume and value, withexports of 144,876 metric tons valued at $59.83 million to five nations in 2024. Prices, however, averaged$3.44 per kilo, indicating bulk sales of inexpensive green tea.
Tea exports to the US surged in 2024 under the threat of tariffs, accounting for 9.6% of total US tea imports, making the US China’s eighth-largest tea trading partner by volume.
Americans prefer more expensive teas, averaging $5.20 per kilo. Green tea, organic tea, specialty oolongs, and powdered tea account for the premium.
Japan has a refined taste for Chinese tea, spending an average of $4.90 per kilo. Imports totaled 10,205 metric tons, for which the Japanese paid $5 million, down 4.7% in value compared to 2023.
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...