Vietnamese Tea Export Prices Are Half of World Average Prices
Export prices of Vietnamese tea are 50% lower than the world’s average prices even though the Southeast Asian country is the fifth biggest tea exporter, according to the Vietnam Tea Association.
The association’s chairman, Mr. Nguyen Kim Phong, said that Vietnamese tea is offered at around US$1,100/ton while average tea prices on the world market are US$2,200/ton.
Phong said 95% of Vietnam’s exported tea being raw tea is the major reason for the low price.
He added that the low prices are due to the lack of capital, techniques and machinery to invest in production as well as poor promotional activities.
Vietnam exported nearly 100,000 tons of tea worth US$126 million in the first nine months of 2009, up 25% and 14.5%, respectively against the same period of last year. Export price of Vietnamese tea in the Jan-Sep period was US$1,282/ton. (Vietnam Economic Times, VOV)
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