Tea purchasing power of Pakistan and Taiwan declined due to the COVID-19 epidemic

Published Aug 12, 2020

Tridge summary

The Department of Agricultural Product Processing and Market Development (MARD) has reported a slight increase in Vietnam's tea export volume in July 2020, reaching 12,000 tons with a value of $ 19 million, despite an 8.7% decrease in value over the first seven months of 2020 compared to the same period in 2019. The average export price per ton fell by 8% due to decreased demand in the main markets, Pakistan and Taiwan, impacted by the COVID-19 pandemic. While India experiences a tea price surge due to supply issues and high-end buyer demand, markets like Kenya and Rwanda face surplus due to prolonged rain. Vietnam's domestic market saw stable tea prices in July 2020.

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

Original content

The Department of Agricultural Product Processing and Market Development (MARD) said that the tea export volume in July 2020 is estimated at 12,000 tons with a value of $ 19 million, bringing the volume and value of tea exports in the first 7 months of the year. 2020 reaches 70,000 tons and 110 million USD, up 1.3% in volume but down 8.7% in value over the same period in 2019. Average export tea price in 6 months of 2020 will reach 1,568 USD / ton, downward 8% over the same period in 2019. In the first 6 months of 2020, the volume of tea exported to many markets decreased, especially the two main markets, including Pakistan and Taiwan, with 44.7% market share. Specifically, for the first half of 2020, tea exports to Pakistan only reached 15,400 tons, equivalent to $ 29.2 million, down nearly 11% in volume and 15.6% in value compared to the same period in 2019. ; Export to Taiwan reached 7,300 tons, equivalent to 11.5 million USD, down 14.3% in volume and 12.7% in value over the ...

Source: Vietnambiz