THE TEA TRADE.

New Zealand Mail, Issue 21, 17 June 1871, Page 5

THE TEA TRADE.

On the above article of consumption the " Australasian Trade Review" says : —Owing to our increasing export trade, our stocks have rapidly diminished j and as South Australia, New Zealand, and Tasmania, embracing a population of 500,000, are drawing their principal supplies from this port, we may fairly anticipate a firmer market and more satisfactory rates. Low teas with leaf, in halfchests, varying from lljd to 13d, in bond, are difficult to meet with ; and medium congous, in boxes, are very scarce. In fine congous, rising to 2s in bond, a fair business has been done during the month. The stock of these grades is not heavy, and prices obtained are low, considering the position of the market. Already opinions are hazarded as to the prospects ot the new season, 1871 and 1872 j and a hope is entertained by some of our importers, that the opening prices will rule lower than for past seasons. We think, however, that there are a few facts regarding tea which may modify our expectations of reduced prices for the forthcoming season, and may lead to important results in the future. Ist. There is the increased Home consumption in the United Kingdom. The deliveries for 1870 were the largest record, amounting to 117,622,577 lbs, —an increase of If millions over 1869, and 10f millions over 1868. 2nd. The American trade has increased, within a comparatively short period, from 10,000,00© lbs, to 50,000,000 lbs annually, forcing its recognition on the Government, and leading to a reduction in the duty of 10 cents or 5d per lb, and encouraging the hope of its speedy and entire abrogation. 3rd. The rapid annual increase in the consumption throughout the Continent of Europe. From an expensive luxury, tea has become an economical and indispensable necessary of life amongst the civilised nations of the world, and its consumption has increased accordingly. We note, on the other hand, that the Chinese production for the last two years has diminished rather than increased, and it remains to be proved whether the ensuing tea season will meet the demands that are likely to be made upon it from all quarters. It is true the gardens of Sythet, Cachar, and Assan are annually yielding an increasing supply, but their aggregate production is insignificant compared with the magnitude of the trade. No alteration in the duty has been made in the new tariff, which remains, as formerly, at 3d per lb ; 1,156,491 lbs were cleared at the Customs on the 15th and 16th instant, in anticipation of a change.