Report Update Nov 1, 2024

Cuba - Tea - Market Analysis, Forecast, Size, Trends and Insights

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Cuba: Tea Market 2024

Tea Market Size in Cuba

In 2021, the Cuban tea market was finally on the rise to reach $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, recorded a noticeable descent. Tea consumption peaked at $X in 2017; however, from 2018 to 2021, consumption failed to regain momentum.

Tea Exports

Exports from Cuba

Tea exports from Cuba surged to X kg in 2021, picking up by 1,300% against the previous year's figure. In general, exports continue to indicate a resilient expansion. The exports peaked at X kg in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, tea exports soared to $X in 2021. Over the period under review, exports showed a resilient increase. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Mongolia (X kg) was the main destination for tea exports from Cuba, with a 75% share of total exports. Moreover, tea exports to Mongolia exceeded the volume sent to the second major destination, Italy (X kg), more than tenfold.

From 2013 to 2021, the average annual rate of growth in terms of volume to Mongolia was relatively modest.

From 2013 to 2021, the average annual growth rate of value to Mongolia was relatively modest.

Export Prices by Country

The average tea export price stood at $X per ton in 2021, surging by 113% against the previous year. Over the period under review, the export price, however, saw a perceptible shrinkage. The growth pace was the most rapid in 2018 when the average export price increased by 181% against the previous year. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per ton), while the average price for exports to Mongolia totaled $X per ton.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Bosnia and Herzegovina (+50.3%).

Tea Imports

Imports into Cuba

After five years of decline, supplies from abroad of tea increased by 12% to X tons in 2021. Over the period under review, imports, however, saw a drastic downturn. The most prominent rate of growth was recorded in 2015 with an increase of 28%. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, tea imports totaled $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when imports increased by 37%. As a result, imports reached the peak of $X. From 2018 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Spain (X tons) constituted the largest supplier of tea to Cuba, accounting for a 47% share of total imports. It was followed by Panama (X kg), with a 1.5% share of total imports. The third position in this ranking was taken by Suriname (X kg), with a 1.1% share.

From 2012 to 2021, the average annual growth rate of volume from Spain stood at -13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+20.4% per year) and Suriname (0.0% per year).

In value terms, Spain ($X) constituted the largest supplier of tea to Cuba, comprising 46% of total imports. The second position in the ranking was held by Panama ($X), with a 1.2% share of total imports. It was followed by Chile, with a 0.4% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Spain amounted to -6.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Panama (+22.0% per year) and Chile (-32.9% per year).

Import Prices by Country

The average tea import price stood at $X per ton in 2021, increasing by 2% against the previous year. Overall, the import price enjoyed a remarkable increase. The pace of growth was the most pronounced in 2019 an increase of 84% against the previous year. As a result, import price attained the peak level of $X per ton. From 2020 to 2021, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Suriname ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Spain (+8.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for tea in the world?

China remains the largest tea consuming country worldwide, accounting for 40% of total volume. Moreover, tea consumption in China exceeded the figures recorded by the second-largest consumer, India, twofold. The third position in this ranking was occupied by Turkey, with a 4% share.

What are the largest producers of tea in the world?

China remains the largest tea producing country worldwide, comprising approx. 43% of total volume. Moreover, tea production in China exceeded the figures recorded by the second-largest producer, India, twofold. The third position in this ranking was occupied by Kenya, with an 8% share.

What are the leading suppliers of tea to Cuba?

In value terms, Spain constituted the largest supplier of tea to Cuba, comprising 91% of total imports. The second position in the ranking was occupied by India, with a 5.7% share of total imports.

What are the leading importers of tea from Cuba?

In value terms, Switzerland $537) and Finland $322) were the largest markets for tea exported from Cuba worldwide.

What is the average export price for tea in Cuba?

In 2019, the average tea export price amounted to $17,180 per ton, with a decrease of -7.7% against the previous year.

What is the average import price for tea in Cuba?

In 2020, the average tea import price amounted to $8,432 per ton, reducing by -3.6% against the previous year.

This report provides an in-depth analysis of the tea market in Cuba. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 667 - Tea

Country coverage:

Cuba

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Cuba
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023