Plenty of room to boost tea exports to the Russian market

Published 2021년 7월 28일

Tridge summary

In the first four months of 2021, Russia's tea imports experienced a recovery, reaching 52,300 tons with a value of 152.2 million USD, marking a 4.8% increase in volume and a 13.4% increase in value compared to the same period in 2020. The average price of imported tea rose by 8.2% to over 2,907 USD/ton. There was a notable shift in the source of Russia's tea imports, with a significant reduction in imports from Vietnam, while imports from India, Kenya, and Sri Lanka increased. Green tea, mainly imported from China, also saw an increase. This comes despite a decrease in the overall demand for tea imports due to changing consumption trends. The upcoming Free Trade Agreement between Vietnam and the EAEU is anticipated to further boost Vietnamese tea exports to Russia.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to statistics from the International Trade Center (ITC), in the first four months of 2021, Russia's tea imports showed signs of recovery, reaching 52,300 tons, worth 52,300 tons, the Import-Export Department (Ministry of Industry and Trade) said. price of 152.2 million USD, up 4.8% in volume and 13.4% in value. The average tea import price of Russia reached more than 2,907 USD/ton, up 8.2% over the same period in 2020. Russia sharply increased tea imports from many main markets in the first four months of 2021, while sharply decreasing imports from Vietnam. Tea imports from Vietnam reached 4,000 tons, worth US$6.7 million, down nearly 19% in volume and 15.8% in value over the same period in 2020. The price of imported tea from Vietnam was at 1,684 0.4 USD/ton, up 3.8% over the same period in 2020. The proportion of imports from Vietnam accounted for 10.6%, down 3 percentage points over the same period in 2020. According to the Import-Export Department, because the type ...

Source: Vietnambiz