According to the Agency of Foreign Trade, in the first half of 2021, tea exports reached 58.1 thousand tons, worth $94.9 million, up 0.3% in volume and 4.4% in value over the same period term 2020. This is good news for Vietnam’s tea industry, especially for export tea. In this article, Vihaba will bring a detailed analysis of critical insights about the Vietnam tea market in the current times.
Tea exports – Vietnam tea market for exporting in the first 6 months of 2021
According to preliminary statistics of the General Department of Customs, in June 2021, the whole country exported 11,110 tons of tea, equivalent to 19.57 million USD. The average price was 1,761 USD/ton, up 9.8% in volume and up 18 .7% in turnover compared to May 2021, up 8.1% in price. Compared to June 2020, it decreased by 7.8% in volume and 2.1% in turnover but increased by 5.8% in price.
In the first 6 months of 2021, the country’s tea export volume reached 58,090 tons (up 0.3% compared to the first 6 months of 2020), earning nearly US$94.86 million (up 4.4%), the price average reached 1,632.9 USD/ton (up 41%).
Main consumption market of Vietnamese exported tea
Pakistan still leads in terms of tea consumption in Vietnam, reaching over 17,274 tons, equivalent to 33.41 million USD. The average price is 1,933.9 USD/ton, up 12% in volume, up 14.4% in turnover, and 2.1% increase in price compared to the first 6 months of 2020. Accounting for 29.7% of the total volume and 35.2% of the total tea export turnover of the country.
Tea exports to Taiwan market – the second-largest market in the first 6 months of 2021 increased by 15% in volume, up 12.9% in turnover but decreased by 2% in price over the same period in 2020, reaching 8,425 tons, equivalent to 12.98 million USD, average price 1,540.8 USD/ton; accounting for 14% of the total volume and total turnover.
The Russian market ranked third with 6,501 tons, equivalent to 10.33 million USD, priced at 1,589 USD/ton, down 11.8% in volume, down 7% in turnover but up 5.5% in price over the same period, accounting for 11% of the total volume and total export turnover of tea of the country.
The notable market is China in the first 6 months of 2021 with a strong increase of 55% in volume. An increase of 59% in turnover, and a 2.6% increase in price over the same period in 2020, reaching 5,405 tons, equivalent to 8 .39 million USD, price 1,552.4 USD/ton; accounting for 9% of the total volume and total turnover.