Export Prices of Vietnam Tea Predicted to Rise 3.2 per cent This Yr
Export prices of Vietnamese tea are forecast to stand at US$1,581 per ton on average this year, up 3.2 per cent on-year, the Agriculture and Rural Development Ministry’s Information Center (Agroinfo) said.
Thin global supply, caused by prolonged hot weather and drought in two major black tea producers of Kenya and Sri Lanka, is one of factors supporting tea price increase, the Agroinfo said.
The center also predicted that domestic tea prices would continue soaring by 1.6 per cent on-year to VND5,062 per kilo in 2009.
Statistics from the ministry showed that total tea cultivation area will reach 131,500 hectares this year with an expected output of 6.5 tons per ha, up 1,900ha and 0.6 tons, respectively, from 2007.
Vietnam was estimated to have earned US$50 million from shipping 40,000 tons of tea abroad in the first five months this year, up 13.4 per cent in value and 17.5 per cent in volume on year.
The country targets to export 117,000 tons of tea valued at US$167 million this year. It is one of the few industries whose exports increase; tea exports for 2009 are expected to increase 13.6 per cent on year, he said.
Vietnam exports tea products to 110 countries and territories under the trademark of CheViet, registered and protected in 70 countries and territories. (Vietnam Economic Times Jun 8 p2)
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