Vietnam's tea exports declined because of slow investment in deep processing

Coffee & Tea

Vietnam

Market & Price Trends

Published Feb 6, 2024

Tridge summary

Vietnam's tea exports in 2023 are projected to decline due to weak market demand and strict import regulations, with the main export markets such as Pakistan, Taiwan, and Russia experiencing economic difficulties. Despite an increase in the average export tea price, it remains below the global average due to the slow improvement in product quality and lack of investment in deep processing. While black tea and flower-marinated tea have seen a decrease in volume but an increase in value, oolong tea exports have more than doubled. The tea industry, despite having a significant tea growing area and numerous processing enterprises, faces challenges such as low rates of good agricultural production practices, poor seed quality management, and difficulties in implementing sanctions.

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: vneconomy.vn According to data from the General Department of Customs, tea exports in 2023 are estimated to reach 121 thousand tons, worth 211 million USD, down 16.9% in volume and 10.9% in value compared to the year 2022. In the fourth quarter of 2023 alone, tea exports are estimated to reach 39,300 tons, worth 70 million USD, an increase of 16.7% in volume and 18.1% in value compared to the third quarter of 2023. Compared to the same period in 2022, although the amount of tea exported decreased by 22.1%, it increased by 1.4% in turnover. GREEN TEA ACCOUNTS FOR 94% OF THE TOTAL QUANTITY OF TEA EXPORTS The Department of Quality Processing and Agricultural Market Development (Ministry of Agriculture and Rural Development), said the main factors causing Vietnam's tea export activities to decrease significantly in 2023 due to weak market demand and increasingly strict import regulations in main markets. In addition, Vietnam's current export tea is mainly in raw form, with low ...

Source: AgroInfo.vn