Forecast price of tea will increase due to shortage of supply

According to the Department of Import and Export (Ministry of Industry and Trade), according to the General Department of Customs, in July 2020 tea exports reached 13.4 thousand tons, worth $ 22.2 million, up 15.1% in volume and decreased. 1.3% in value over the same period in 2019. The average export tea price in July 2020 reached 1,659.3 USD / ton, down 14.3% compared to July 2019. Accumulated from the beginning of 2020 to the end of July 2020, tea exports reached 71.3 thousand tons, worth $ 113 million, up 3.2% in volume and 6.1% in value over the same period in 2019. The average export tea price in the first 7 months of 2020 reached 1,585.2 USD / ton, down 9.1% over the same period in 2019. According to the Import and Export Department in the coming time, tea prices are forecast to increase due to There is a shortage of tea in the world, many tea-producing countries in the world are affected by floods and social disruption to prevent the spread of disease. In the first 7 ...