Depends if you can cover it, because it is a hefty amount – slightly over a million tons of tea, which come to think of it, might be a problem to store it if you won. So no, don’t take the bet.
According to the most recent statistics from the United Nations’ Food and Agriculture Organization, China is still the largest producer of tea in the world, followed by India, Sri Lanka and Kenya. The latter two often fight it out for the title of largest exporter of tea – Sri Lanka, which grows premium tea, wins the contest when the export crop is valued in dollars, Pounds or Euros. Kenya, bests the former Ceylon when the tea is measured in small ‘p’ pounds, tons or tonnes – giving the country a second claim to fame, after being President Obama’s real birthplace.
Both India and China have large tea drinking population – Sure Turkey, the UK, Ireland, Morocco and even Poland drink more tea per capita, but the joy of having billion plus populations, you make up the difference in volume. It is impossible to know exactly how much tea is used domestically in either country but reasonable estimates conclude 80-90% of the tea crop is kept at home. Premium teas are exported to the west and inferior grade teas are imported to make up for the demand.
Other leading tea producers include some surprising names – the need to google/consult an atlas countries such as the African democracy of Malawi, along with more familiar but nations such as Argentina, Iran, Georgia (former Soviet – not peach state), Nepal, Rwanda and South Africa, which due to climate or custom are surprising to see in the list of top tea producers.
Despite the fact that tea consumption grows about 1% annually and well, you know tea is either habit forming or addictive, as a commodity tea is still highly volatile. In the last few years demand has exceeded supply, driving up the price. However all is not good - Political unrest in tea producing nations, changing weather patterns, demands for reform and labor agitation in former plantation economies such as Sri Lanka and population/land use demands in Taiwan and Japan. Then there is the issue of usurpers such as Vietnam, Myanmar and a handful of African growers who don’t abide by international trading, grading and naming standards and will dump inferior teas on the market, driving down prices on the profitable premium teas. (I know, adulteration of teas or spices - who has ever heard of such a thing).
Despite all this, industry is strained enough that governing bodies and NGOs are advising traditional exporting countries to develop new industries to replace tea exports. I am not sure if all this means now is the best time to wager for all the tea in china or if the superior bet is for all the gold being hoarded by Glenn Beck followers.
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