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MeetingMeeting documentInternational tea prices: Insights into the nature of price volatility - CCP:TE 22/CRS 2 2022International tea prices are characterized by relatively elevated volatility, which constitutes a major challenge for producers and other market operators. The objective of this document is to identify and examine the nature, extent and implications of volatile tea prices, highlighting possible policy actions. We identify four major sources of price movements based on economic literature and the specific nature of the tea market. These are: 1) global economic activity, as a proxy for shifts in aggregate demand; 2) changes in net supply of tea, to account for tea-specific demand and supply shocks; 3) the value of the United States of America dollar (USD) with respect to that of other major international currencies; and 4) oil prices, as a proxy for energy costs. The applied empirical framework splits the effects of these four factors and estimates the extent of their contribution in explaining tea price booms and busts. Results indicate that the bulk of the price movements in the tea market is attributed to shocks that are specific to the sector, that is changes in the fundamentals of tea demand and supply. It should be noted, however, that the impact of the economic activity on tea prices was greatest in the first three months of 2020, coinciding with the onset of the COVID-19 pandemic and the resulting lockdowns and global economic downturn. Clearly, an effective way to reduce volatility is to bring about a permanently improved balance between supply and demand.
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PresentationPresentationGlobal Tea Market Situation and Emerging Issues
24th Session of the Intergovernmental Group on Tea
2022Also available in:
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BookletHigh-profileFAO Strategy on Climate Change 2022–2031 2022The FAO Strategy on Climate Change 2022–2031 was endorsed by FAO Council in June 2022. This new strategy replaces the previous strategy from 2017 to better FAO's climate action with the Strategic Framework 2022-2031, and other FAO strategies that have been developed since then. The Strategy was elaborated following an inclusive process of consultation with FAO Members, FAO staff from headquarters and decentralized offices, as well as external partners. It articulates FAO's vision for agrifood systems by 2050, around three main pillars of action: at global and regional level, at country level, and at local level. The Strategy also encourages key guiding principles for action, such as science and innovation, inclusiveness, partnerships, and access to finance.
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Book (stand-alone)Technical bookThe future of food and agriculture - Trends and challenges 2017
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No results found.What will be needed to realize the vision of a world free from hunger and malnutrition? After shedding light on the nature of the challenges that agriculture and food systems are facing now and throughout the 21st century, the study provides insights into what is at stake and what needs to be done. “Business as usual” is not an option. Major transformations in agricultural systems, rural economies, and natural resources management are necessary. The present study was undertaken for the quadrennial review of FAO’s strategic framework and for the preparation of the Organization Medium-Term plan 2018-2021. -
BookletCorporate general interestEmissions due to agriculture
Global, regional and country trends 2000–2018
2021Also available in:
No results found.The FAOSTAT emissions database is composed of several data domains covering the categories of the IPCC Agriculture, Forestry and Other Land Use (AFOLU) sector of the national GHG inventory. Energy use in agriculture is additionally included as relevant to emissions from agriculture as an economic production sector under the ISIC A statistical classification, though recognizing that, in terms of IPCC, they are instead part of the Energy sector of the national GHG inventory. FAO emissions estimates are available over the period 1961–2018 for agriculture production processes from crop and livestock activities. Land use emissions and removals are generally available only for the period 1990–2019. This analytical brief focuses on overall trends over the period 2000–2018.