Exports. —The total value of direct Exports to Foreign countries, viz., Hk. Tls.3224582,falls deplorably short of that for 1891—Hk.Tls.8228146.This is due not only to a greatly diminished quantity of Tea despatched, but also to a great fall in its value.The quantity of Tea exported,though much decreased,does not fall in the same ratio,being 190243 piculs of Black Tea,against 260583 piculs in 1891.
The most striking feature in the trade of this port during 1892 is the conspicuous decline in the export of Tea to Russia viâ Odessa. This branch of trade, which had been steadily increasing in later years, now shows a decrease of 67826 piculs, or 37 per cent of the previous year’s export, which is a larger diminution than the Londonbound Tea shows. This falling off is said to be solely due to the recent famine in Russia, and next year’s Tea season will probably see the supply for that country up to its former standard.
The year’s Tea season commenced on the 5th of May, when the first samples of Oanfa and Kokew were shown. A few prime chops of Ningchow were taken up at high prices, though for the first week the market was not at all brisk. The rainy weather in the end of April much hindered the packing. As usual, the Russian demand ruled the market until the prices had fallen within the scope of London quotations,which were unprecedentedly low. Good rices were realised for a few chops of Ningchow, but this crop was not satisfactory. The Kokew crop was still less so through carelessness in the firing,etc. The prices realized (about Tls. 10 per picul)were ruinous to the teamen. The best Teas of the season were those from the Oanfa district. Of the total first crop, there was a deficiency, and a subsequent moderate second crop caused prices to be well sustained,which induced teamen to bring down an unusually large third crop in October.The qualities of the second and third crops were but an ordinary average. Prices realised on the London market were exceedingly low, none but the best Teas realising anything over 1s.per pound. The quantities of Black Tea exported and re-exported during the year were—(www.daowen.com)
whereas the corresponding quantities during 1891 were—
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