THE TEA MARKET.
Intelligence by way of Cooktown by the steamer Menmuir, with China dates to June 17, states that the Foochow tea market was opened on June 10. The opening quotations for best Congou are said to be 30 per cent, lower than last year. A war in freight rates is said to have occurred at Amoy, with the result that freights were reduced Jrom £4 to £2 10s. Regarding the tea from Kiknang, the export to May 31 is the same as last season—viz., 19,000,0001b. The balance of the crop is being stored and held there. The total of the first crop from that port is expected to reach 22,000,0001b this year, against 21,000,0001b last year, the produce of the whole season having been 2>,000,0001b.
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Otago Daily Times, Issue 7926, 18 July 1887, Page 2
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127THE TEA MARKET. Otago Daily Times, Issue 7926, 18 July 1887, Page 2
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