Why did tea exports of Vietnam reach their lowest level in the past 7 years?
Vietnam
Market & Price Trends
Published Jan 22, 2024
Tridge summary
In the fourth quarter of 2023, Vietnam's tea exports are estimated to reach 39.3 thousand tons, worth 70 million USD, representing a 7% increase in volume and an 18.1% increase in value compared to the previous quarter. Overall, in 2023, tea exports are estimated to reach 121 thousand tons, worth 211 million USD, representing a decrease of 16.9% in volume and 10.9% in value compared to 2022, the lowest export output in 7 years. The decrease in exports is attributed to weak market demand and increasingly strict import regulations in main tea export markets, and it is recommended that the Vietnamese tea industry focus on high technology, organic agricultural production, and diversifying and promoting high-value and new tea products to expand market share.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
Source: congthuong.vn The Import-Export Department (Ministry of Industry and Trade) cited data from the General Department of Customs as saying that it is estimated that in the fourth quarter of 2023, Vietnam's tea exports will reach 39.3 thousand tons, worth 70 million USD, an increase of 16,000 tons. 7% in volume and an increase of 18.1% in value compared to the third quarter of 2023, a decrease of 22.1% in volume but an increase of 1.4% in value compared to the fourth quarter of 2022. The average export price of tea in the fourth quarter of 2023 reached 1,778.9 USD/ton, up 1.2% compared to the third quarter of 2023 and up 30.1% compared to the fourth quarter of 2022. Overall, in 2023, tea exports are estimated to reach 121 thousand tons, worth 211 million USD, down 16.9% in volume and 10.9% in value compared to 2022. Average export price of tea in the year 2023 is estimated to reach 1,737.3 USD/ton, an increase of 7.3% compared to 2022. Thus, 2023 is the year with the lowest ...
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