According to the Agency of Foreign Trade (Ministry of Industry and Trade), in 2023, tea exported is estimated to reach 121 thousand tons, worth USD 211 million, down 16.9% in volume and 10.9% in value compared to 2022. The average export price of tea in 2023 is estimated to reach USD 1,737.3/ton, up 7.3% compared to 2022.
Of which, in Quarter 4 2023, Vietnam’s tea exports are estimated to reach 39,300 tons, worth USD 70 million, an increase of 16.7% in volume and 18.1% in value compared to Quarter 3 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. The average export price of tea in the fourth quarter of 2023 reached USD 1,778.9/ton, up 1.2% compared to the third quarter of 2023 and up 30.1% compared to the same period of the previous year.
The main factors causing Vietnam’s tea exports to decrease considerably in 2023 are weak market demand and increasingly strict import regulations in main markets. Additionally, our country’s tea output is exported in raw form, with low processing content.
Most exported tea products tended to decrease in the first 11 months of 2023. Leading in volume and value is green tea with 52,600 tons, worth USD 104 million, down 6.9% in volume and decreasing 1% in value compared to the same period in 2022. Next is the black tea category which reached 42,200 tons, worth USD 57.2 million, down 16.1% in volume and 18.4% in value respectively; flower-marinated tea reached 3,500 tons, worth USD 7.3 million, down 4.7% in volume but up 6.7% in value.
Notably, Oolong tea exports reached 1,100 tons, worth USD 3.5 million, up 101.8% in volume and 106.5% in value over the same period in 2022.
Assessing the market, the Agency of Foreign Trade said that most of the tea import value in major markets in the world from Vietnam accounts for a low proportion. Therefore, despite weak market demand, Vietnam’s tea industry still has the opportunity to expand its market share.
According to the Agency of Foreign Trade, to boost exports to major markets in the world, Vietnam’s tea industry must promote tea production in a safe direction, encourage tea production enterprises to apply high technologies and focus on rapidly increasing the proportion of high-value products and new products.
Source: baophapluat.vn