Tea export price averaged $1,272.7 per tonnes, up by 1.6%
Vietnam exported 16,000 tonnes of tea in July, worth $29 million, up 14.5% and 6.8% over a month earlier, according to the Import – Export Department of the Ministry of Industry and Trade.
Tea export products of Vietnam include green tea, black tea and oolong tea.
The proportion of Vietnamese tea imported into major markets remains modest, so Vietnam has significant potential to increase its volumes even though it was among the world’s largest tea exporters.
Specifically, Vietnam’s tea export to the EU, the world’s largest tea importer, accounted for just 0.19% of the bloc’s total tea imports of $401 million in the first four months of this year, according to statistics from Eurostat.
However, the EU is raising higher requirements for tea quality, towards greener and leaner production, pushing exporters to update themselves on the new regulations.
Pakistan is also the second largest tea importer in the world, but the tea export of Vietnam into this market remained modest due to the lack of market information.
The demands for tea of other major tea import markets such as the US and the UK are increasing, providing significant opportunities for Vietnam to expand. A study by Research and Markets showed that the global tea market is expected to reach $37.5 billion in 2025, up from $24.3 billion in 2016.
