Blog
World Tea Prices Climb to New High
4th September 2009
The price of tea on the global market has surged to a fifteen year high. Supply and demand factors are both at work as this short streamed presentation shows
There are over 1,500 different types of tea so discussing what is happening to the ‘world price’ has its limitations! But this is an interesting market to explore for AS students covering as it does
Market demand and supply factors The impact of price volatility Do tea producers actually gain from rising market prices Price and income elasticity of demand for tea Fair Trade and tea pricing policies The impact of changing tea prices on demand for and supply of related products *The significance of world tea prices for macroeconomic performance of major tea exporting nations
Once students have the core supply and demand analysis, this is a topic that we can return to later on in the course and also in revision
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.