Price of tea will increase due to shortage of supply

According to the Import and Export Department of Vietnam, in the near future, tea prices are expected to increase due to a global shortage of tea. Many tea-producing countries around the world including Vietnam are affected by floods and social disruptions to prevent the spread of COVID. In the first 7 months of 2020, Vietnam's tea exports to some markets such as Pakistan decreased by 10.1% in volume and 15.1% in value. Global black tea output in the first half of 2020 decreased by 8.23% compared to the same period in 2019 (equivalent to a decrease of nearly 75.000 MT), mostly in major production markets such as Vietnam, India, Bangladesh, etc.