China is spending heavily to buy Vietnamese tea, even though its exports are the top in the world

Vietnam

Market & Price Trends

Published Feb 19, 2024

Tridge summary

Vietnam's tea exports in December 2023 saw an 11.3% increase in volume, reaching 13,723 tons. Despite this, the total tea exports for the year, which amounted to 119,794 tons and earned over 208 million USD, marked a decrease from 2022. The average export price of tea, however, rose by 7% compared to the previous year. Green tea was the primary export, with Pakistan, Taiwan, and Russia being the largest markets. Notably, tea exports to China significantly increased in the year's final two months. Vietnam currently ranks 5th globally in tea export and 7th in tea production.

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: markettimes.vn Illustration According to preliminary statistics from the General Department of Customs, Vietnam's tea exports in December reached 13,723 tons with a value of more than 23 million USD, up 11.3% in volume and 5.1% in value compared to with the previous month. Cumulatively for the whole year 2023, our country has exported 119,794 tons of tea and earned more than 208 million USD, down 18% in volume and 12% in value compared to 2022. The average export price of tea reached 1,738 USD/ton, an increase of 7% compared to 2022. Regarding the type of exported tea products in 2023, the leader in volume and value is green tea with 57,500 tons, worth 113.5 million USD. Next are black tea, flower-infused tea and oolong tea. In terms of markets, Pakistan, Taiwan (China) and Russia are the three largest markets for Vietnamese tea with a proportion of 39% respectively; 11% and 5%. However, one market that is witnessing a galloping increase in tea imports in the last 2 months ...

Source: AgroInfo.vn