Local tea exports surge in first half
- Tea export price enjoys drastic rise in Chinese market
- Vietnam tea exports ranked fifth worldwide
- Vietnam’s five-month tea export sees strong growth
The average export value throughout the reviewed period enjoyed a surge of 4.1% to reach US$1,632.9 per tonne against the same period from last year.
Pakistan, Taiwan (China), and Russia continued to be the country’s major export markets in the first half of the year, accounting for 55.4% of total tea exports.
In relation to the figure, exports to the Pakistani and Taiwanese markets witnessed robust growth, while exports to Russia endured a downward trajectory.
Most notably, tea exports to China and Iraq increased sharply in the reviewed period, with exports to the Indian market enjoying a significant rise.
According to statistics released by the General Department of Vietnam Customs, Vietnamese tea exports in June reached 11,000 tonnes, worth US$19.6 million, down 7.8% in volume and representing a fall of 2.4% in value compared to June last year.
Furthermore, the average export price of tea in June saw an annual rise of 5.8% to US$1,761.1 per tonne.
According to details provided by industry experts, local enterprises have been advised to invest heavily in production lines in order to launch high-quality tea products capable of making further inroads into the Russian market, which has seen a recent decline in exports.
This comes following the enforcement of a Free Trade Agreement (FTA) between Vietnam and the Eurasian Economic Union (EAEU) which is anticipated to boost the nation’s tea export turnover to the demanding market due to import tariffs in the market being slashed to 0%.