Positive outlook ahead for tea exports in second quarter
VOV.VN - Vietnam’s tea exports are anticipated to record positive growth during the second quarter, following a sharp increase in exports to Pakistan, China, and India in the first four months of the year.
According to the General Department of Vietnam Customs, Vietnam exported 36,900 tonnes of tea worth US$58.85 million throughout the reviewed period, representing an annual rise of 1.2% in volume and 6.7% in value.
The average export price of tea rose by 5.4% to US$1,595.6 per tonne compared to the same period from last year.
Most notably, the country shipped 103,400 tonnes of tea worth US$19.6 million to Pakistan, making up the highest proportion of exports and marking an annual rise of 12.4% in volume and 16% in value.
Vietnam also exported 3,500 tonnes of tea worth US$5.3 million to the Chinese market, an increase of 175.2% in volume and 151.9% in value.
Elsewhere, tea exports to the Indian market reached 805 tonnes worth US$1 million, an annual rise of 1,157.8% in volume and 1,091.9%.
In particular, the market share of the Vietnamese tea as part of Germany's total tea imports has seen a significant increase according to data from the European Statistical Office (Eurostat).
The country remained the 17th largest tea supplier to the German market in the opening two months of the year, exporting 46 tonnes of tea worth US$193,000 to the market, up 91.2% in volume and 59.2% in value from last year’s corresponding period.
According to industry experts, Vietnamese tea exports are predicted to enjoy robust growth in the second quarter of the year due to positive signs coming from several import markets.
Moreover, the local tea industry is also expected to enjoy a number of advantages, including the changing of consumption trends due to the COVID-19 pandemic and tariff incentives brought in by the EU-Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
The International Trade Center (ITC) has released data showing that the five largest tea import markets in the world are the EU, Pakistan, the United States, Russia, and the UK. Making up 41.8% of the world’s overall import value last year, these five markets are expected to present a big opportunity for the Vietnamese tea industry.
