Vietnam: What is the reason why tea exports declined sharply in the first 8 months of 2023?

Source: congthuong.vn The Import-Export Department (Ministry of Industry and Trade) cited statistics from the General Department of Customs as saying that tea exports in August 2023 reached 12.2 thousand tons, worth 22 million USD, down 4.3% in volume. and decreased 3.8% in value compared to August 2022. The average export price of tea in August 2023 reached 1,804.0 USD/ton, up 0.5% compared to August 2022. In the first 8 months of 2023, tea exports reached 70.9 thousand tons, worth 121.9 million USD, down 13.9% in volume and 16.6% in value compared to the same period in 2022. Price Average exported tea reached 1,718.3 USD/ton, down 3.2% over the same period in 2022. Tea exports to main markets such as Pakistan, Taiwan and Russia are still on a downward trend, because the economies of these countries are still facing many difficulties. Pakistan's foreign currency shortage makes many importers unable to buy foreign currency to pay exporters. According to the Vietnam Trade Office in ...