Vietnam becomes 8th largest tea exporter in the world
Vietnam is the 8th largest tea exporter in the world, earning 135 million USD from tea exports in the first seven months of this year, an increase of 34.8% over the same period last year.
Farmers harvest tea in northern Lai Chau province. (Photo: VNA)
Hanoi (VNS/VNA) - Vietnam is the 8th largest tea exporter in the world, earning 135 million USD from tea exports in the first seven months of this year, an increase of 34.8% over the same period last year.
The country’s tea export price averaged 1,272.7 USD per tonne, up by 1.6 %.
In July alone, tea export reached 16,000 tonnes, worth 29 million USD, up 14.5% and 6.8 %, respectively, over the previous month, statistics of the Ministry of Industry and Trade’s Agency of Foreign Trade showed.
Tea export products of Vietnam include green tea, black tea and oolong tea.
Although Vietnam was among the world’s largest tea exporters, the proportions of Vietnamese tea in the import of major markets remain modest, meaning that there are significant opportunities for Vietnam to increase volume.
Specifically, Vietnam’s tea export to the EU, the world’s largest tea importer, accounted for just 0.19% of the bloc’s total tea imports of 401 million USD in the first four months of this year, according to statistics from Eurostat.
However, the EU is raising higher requirements for tea quality, towards greener and leaner production, pushing exporters to update themselves on the new regulations.
Pakistan is also the second largest tea importer in the world, but the tea export of Vietnam into this market remained modest due to the lack of market information.
The demands for tea of other major tea import markets such as the US and the UK are increasing, providing significant opportunities for Vietnam to expand. A study by Research and Markets showed that the global tea market is expected to reach 37.5 billion USD in 2025, up from 24.3 billion USD in 2016./.
The export value of Vietnamese tea to China in the first two months of this year quadrupled from the same period last year, according to the General Department of Vietnam Customs.
Vietnam exported 107,000 tonnes of tea valued at 187 million USD during January-October, up 3.2 percent in volume and 14.3 percent in value year-on-year.
Vietnam exported 48,000 tonnes of tea in the first five months of this year, raking in 73 million USD, representing year-on-year increases of 14.3 percent in volume and 12.4 percent in value.
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