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Journal of Integrative Agriculture  2022, Vol. 21 Issue (2): 552-565    DOI: 10.1016/S2095-3119(21)63850-9
Special Issue: 农业经济与管理合辑Agricultural Economics and Management
Agricultural Economics and Management Advanced Online Publication | Current Issue | Archive | Adv Search |
Black tea markets worldwide: Are they integrated?
XU Yong-mei1, QIAO Fang-bin2, HUANG Ji-kun3
1 School of Economics, Zhejiang Gongshang Unviersity, Hangzhou 310018, P.R.China
2 China Economics and Management Academy, Central University of Finance and Economics, Beijing 100081, P.R.China
3 China Center for Agricultural Policy, Peking University, Beijing 100871, P.R.China
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Abstract  Global tea consumption has risen significantly alongside rapid expansion of international trade in recent years.  However, few studies have systematically examined the relationship among the major tea markets worldwide.  Using weekly data from 2012–2019, this study empirically analyzed the price series of the world’s major black tea auction markets.  The estimation results showed that these markets are connected, even though heterogeneities vary.  This finding holds not only for regional markets but also for international markets.  The findings offer important implications for tea-producing countries with millions of smallholder farmers.
Keywords:  black tea market       price       integration       VECM  
Received: 04 January 2020   Accepted: 19 October 2021
Fund: This work was supported by the National Natural Science Foundation of China (71773150 and 71934003).
About author:  Received 24 December, 2020 Accepted 19 October, 2021 Correspondence QIAO Fang-bin, E-mail:; HUANG Ji-kun, E-mail:

Cite this article: 

XU Yong-mei, QIAO Fang-bin, HUANG Ji-kun. 2022. Black tea markets worldwide: Are they integrated?. Journal of Integrative Agriculture, 21(2): 552-565.

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