The country’s tea export price averaged 1,272.7 USD per ton, up by 1.6 %.
In July alone, tea export reached 16,000 tons, 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.
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Farmers harvest tea in Northern Lai Chau province |
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 E.U., 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 E.U. 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 U.S. and the U.K. 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.
Source: VNA