China is increasingly spending heavily to buy ‘green gold’ from Vietnam even though its exports are the world’s top: Earning hundreds of millions of dollars in 2023, only available in 1/6 of the world

China is increasingly spending heavily to buy ‘green gold’ from Vietnam even though its exports are the world’s top: Earning hundreds of millions of dollars in 2023, only available in 1/6 of the world
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Source: markettimes.vn

China is increasingly spending heavily to buy 'green gold' from Vietnam even though its exports are the world's top: Earning hundreds of millions of dollars in 2023, only available in 1/6 of the world - Photo 1.

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According to preliminary statistics from the General Department of Customs, Vietnam’s tea exports in December reached 13,723 tons with a value of more than 23 million USD, an increase of 11.3% in volume and an increase of 5.1% in value compared to with the previous month. Cumulatively for the whole year 2023, our country has exported 119,794 tons of tea and earned more than 208 million USD, down 18% in volume and 12% in value compared to 2022.

The average export price of tea reached 1,738 USD/ton, an increase of 7% compared to 2022.

Regarding the type of exported tea products in 2023, the leader in volume and value is green tea with 57,500 tons, worth 113.5 million USD. Next are black tea, flower-infused tea and oolong tea.

In terms of markets, Pakistan, Taiwan (China) and Russia are the three largest markets for Vietnamese tea with a proportion of 39% respectively; 11% and 5%. However, one market that is witnessing a galloping increase in tea imports in the last 2 months of the year is the Chinese market.

Specifically, in December, tea exports to China reached 1,520 tons and earned more than 2.1 million USD, a sharp increase of 32% compared to November’s output and 7 times higher than October.

China is increasingly spending heavily to buy

For the whole year 2023, our country exported 5,940 tons of tea to China and earned more than 11.5 million USD, down 43% in volume and 35% in value compared to 2022.

The average export price reached 1,944 USD/ton, up 12% compared to the previous year.

Worth mentioning, China is the largest tea producing country in the world. In the 2021 – 2022 crop year, China produced 2.4 million tons of tea. The Chinese Ministry of Agriculture also said that this country owns more than 2 million hectares of tea growing land, distributed in Sichuan, Hunan, Fujian, Yunnan and Hubei provinces and is one of the industries that plays a leading role in tea cultivation. important role in the economic development of this billion-people country. China’s tea export markets include Europe, America and Asia.

Today there are about 40 tea growing countries in the world, equivalent to about 15% of the world’s regions. Tea plants are grown mainly in tropical and subtropical climate zones, so tea plants are most concentrated in Asia with 8 countries among the top tea producing countries in the world, including Vietnam.

According to statistics from the Vietnam Tea Association, as of 2020, our country has 34 provinces and cities growing tea with a total area of ​​123,000 hectares, average productivity of nearly 95 tons/ha, output of 1.02 million. Tons of fresh tea leaves. Vietnam currently ranks 5th in the world in tea export and 7th in global tea production. Vietnamese tea products are currently exported to 74 countries and territories. Besides, Vietnam currently ranks second in the world, just behind China in terms of green tea output and export.

According to the Ministry of Agriculture and Rural Development (MARD), the goal is that by 2030, Vietnam’s tea growing area will reach from 135 to 140 thousand hectares, striving to reach 55% of tea area certified as safe by 2025. and by 2030 about 75%.

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