Wednesday, November 6, 2024 12:30:20 PM - Markets open
VN-INDEX 1,254.69 +8.93/+0.72%
HNX-INDEX 226.51 +1.65/+0.74%
UPCOM-INDEX 92.18 +0.28/+0.30%
Vietnam ranks fifth in the world in tea exports
vietnamnews - 11/6/2024 8:32:59 AM
 (0 ratings. You must sign in to rate.)
By the end of July, the country was only the world’s eighth-largest tea exporter.
 
 
A farmer collects tea leaves in the northern province of Lai Châu. The climate and soil quality in the northern region are suitable for growing tea. — VNA/VNS Photo Quý Trung
 
Vietnam has become the fifth-largest tea exporter in the world with 108,000 tonnes exported by the end of September, generating a turnover of US$189 million.
 
That volume is a 31.9 per cent increase compared to the first nine months of 2023, while the export value was up 34.2 per cent.
 
This is a marked acceleration from the end of July, when Vietnam was only the world’s eighth-largest tea exporter, earning $135 million from exporting around 78,000 tonnes of tea.
 
The information was provided at a conference on promoting the production and consumption of high-quality tea, held on Tuesday in Phu Tho Province by the Department of Crop Production (under the Ministry of Agriculture and Rural Development), the Vietnam Gardening Association and the Northern Mountainous Agriculture and Forestry Science Institute (NOMAFSI).
 
Tea output tends to increase in recent years due to increased productivity, despite a slight decrease in growing areas, according deputy director of the Department of Crop Production, Nguyễn Quốc Mạnh.
 
Comparing international and domestic tea consumption in 2022, he pointed out that the 48,000 tonnes sold in the country were worth about $325 million, while the 146,000 tonnes of tea exports created a value of only $237 million.
 
“The amount of tea consumed domestically was only one-third of the volume of tea exports, but the value of domestic consumption is higher. So finding ways to increase export value is still a challenge for the Vietnamese tea industry,” Mạnh said.
 
Việt Nam’s tea products have been exported to more than 100 countries and territories. Key markets include Pakistan, Taiwan (China), Russia, China, the United States and the EU, according to the Department of Quality, Processing and Market Development, also under the agriculture ministry.
 
To date, the country has processed about 15 different types of tea, with black and green tea being the main types. — VNS
 
Read original article here

Read original article here

Older News
08:30 Vietnam’s WTO journey: From economic integration to global trade powerhouse
05/11 PM urges national brands to expand towards a green future
05/11 Foreign suppliers pay over VNĐ18 trillion in taxes via electronic portal
05/11 Hanoi takes drastic measures to disburse public investment
05/11 VN's key exports are on a path of recovery: industry experts
05/11 Brand management will help sustainable business development, experts say
05/11 Fresh coconuts quenching new overseas markets
05/11 New solutions needed for urgent power projects
05/11 Vietnam's seafood sector primed for growth with favourable exports
04/11 Numerous US businesses set to arrive in HCM City to implement signed agreements
 
Newsletter Signup
Top Stories
VCCI recommends mineral mining rights be granted through auction and bidding
Central bank works to raise interbank rates and ease forex market
Inflation a concern following salary increases
National Council for Sustainable Development established
Việt Nam, Cambodia look forward to $20 billion trade
Market Update
Last updated at 12:25:01 PM
VN-INDEX 1,254.69 +8.93/+0.72%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.