Vietnam’s tea exports likely to increase in coming months
Vietnam’s tea exports are forecast to increase in both volume and value in the remaining months of 2017 due to growing global demand and limited supply.
Vietnam’s tea exports likely to increase in coming months (Photo: VNA)
Hanoi (VNA) – Vietnam’s tea exports are forecastto increase in both volume and value in the remaining months of 2017 due togrowing global demand and limited supply.
The reduction of output in major tea exporting countries suchas Kenyan, India and Sri Lanka, will push up tea prices, benefiting Vietnameseenterprises in the short term.
According to the Ministry of Industry and Trade, Vietnam exported 103,000tonn🌺es of tea worth 164 million USD in the first nine months of 2017, representingyear-on-year rises of 12 percent and 11.2 p⛄ercent respectively.
Pakistan, Taiwan and Russia were the biggest importers of teafrom Vietnam, accounting for 51.5 percent of Vietnam’s total tea exportturnover in the January-August period. Besides opportunities, Vietnamese tea exporters are facing anumber of challenges related to production costs, processing technology,quality standards, and marketing. In the context of global economic integration,apart from tariff reduction, businesses have to suffer pressure from technicalbarriers, especially regarding food hygiene and safety. To ensure sustainable growth of tea exports, local exportersneed to join global value chains, promote tea production models meeting GoodAgricultural Practice (VietGap) standards, build up brand names and invest intechnology to penetrate into such choosy markets as the US and European Union(EU). Vietnam has exported tea products to 110 countries andterritories worldwide, with the Vietnamese tea brand names registered forprotection in 70 countries and regions. Vietnam is now the world’s seventh largest tea producer andfifth biggest tea exporter with 124,000 hectares under tea farming and over 500facilities which produces more than 500,000 tonnes of dried tea per year.-VNA
The Vietnam Tea Association (Vitas) expects the country will earn 245 million USD from tea exports by the end of the year thanks to efforts to promote trade activities, reorganise production, diversify the product range, and improve the quality of tea, the Vietnam Economic News reported.
Vietnam's tea producers should meet Fairtrade International's certification standards to increase the competitive quality of tea products and improve their export value, said experts.
Tea exports in the past 11 months reached 118,000 tonnes, bringing home 197 million USD, increasing 7.1 percent in volume and 4.3 percent in value compared to the same period last year.
Vietnam exported 48,000 tonnes of tea in the first five months of this year, raking in 73 million USD, representing year-on-year increases of 14.3 percent in volume and 12.4 percent in value.
Vietnam’s tea sector is aiming to export 150,000 tonnes and earn a turnover of 250 million USD in 2017, announced the Ministry of Agriculture and Rural Development (MARD).
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Vietnam’s tea exports likely to increase in coming months (Photo: VNA)
