Vietnam’s five-month tea export sees strong growth
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.
In May alone, export volume was estimated at 10,000 tonnes with turnover of 17 million USD, according to the Ministry of Agriculture and Rural Development.
However, the tea price for export in the last five months decreased 3.8 percent compared to the same period last year, to 1,452 USD per tonne on average.
India was the top consumption market of Vietnamese tea in the period, with export volume to the market increasing 11.6 times year-on-year.
It was followed by Poland, the United Arab Emirates (UAE), Taiwan (China) and Russia, with respective rises of 93.6 percent, 77.5 percent, 44.3 percent and 17.5 percent.
However, exports to Pakistan, the biggest market of Vietnam’s tea with 25.5 percent of the market share, decreased by 1.4 percent in volume and 6.3 percent in value compared to the same period last year.
The Vietnam Tea Association (VITAS) predicted that the country’s export volume in 2017 will increase by about 10 percent from 2016.
Vietnam exports tea to 110 countries and territories worldwide, with the Vietnamese tea brand registered for protection in 70 countries and regions.
Vietnam’s key tea export markets are Afghanistan, Indonesia, Russia, Pakistan, Taiwan (China), the US, China, the UK and the UAE.
Vietnam mainly exports black tea, accounting for about 78 percent of total tea exports.
According to Nguyen Huu Tai, President of the VITAS, Vietnam has great potential to expand production of “Shan Tuyet” tea, which is hoped to become a key tea product for export soon.
Vietnam is the world's seventh largest tea producer and among the top five tea exporters. However, the country ships mainly material tea and low-value tea products.
Experts said Vietnam should look to export high-value tea products instead, adding that the State needs to change management institutions to support tea producers and exporters.
Source: VNA Date: 2017-06-07