Vietnam Earns US$11Mln from Tea Exports in First Quarter
Vietnam is expected to earn about US$11 million from tea exports so far this year, according to the Vietnam Tea Association (Vitas).
The association also reports that domestic tea businesses are now shipping large amounts of tea to seven foreign markets.
Some of the largest buyers are Taiwan, which is buying six varieties of tea from 72 enterprises, Pakistan, which is buying two varieties from 60 enterprises, the US, which is buying 24 varieties from 31 enterprises, Japan, buying nine varieties from 30 enterprises, and Russia, which is buying two varieties from 27 enterprises.
Vietnamese tea products also went to markets such as Germany, China, Indonesia, Poland, the United Arab Emirates, Britain and the Netherlands.
The association said that the high number of tea exporters has resulted in unfavorable market conditions due to increased competition between domestic enterprises.
However, Nguyen Van Thu, Vice President of Vitas, said many tea businesses are suffering enormous difficulties due to unplanned development and inadequate material supply.
Export prices this year average US$1,026 per ton, down by US$77 per ton compared to last year.
Vietnam Economic Times
Vietnamese
