Tea prices are expected to increase in the coming time due to a global shortage of tea

Source: Vietnambiz.vn

Market bulletin dated August 20 of the Import and Export Department (Ministry of Industry and Trade), with data from the General Department of Customs, said that in July 2020 tea exports reached 13,400 tons, worth $ 22.2 million. , up more than 15% in volume and 1.3% in value over the same period period year 2019.

The average export tea price in July 2020 reached 1,659.3 USD / ton, down 14.3% compared to July 2019.

Accumulated from the beginning of 2020 to the end of July 2020, tea exports reached 71,300 tons, worth 113 million USD, up 3.2% in volume and 6% in value over the same period. period in 2019. The average export tea price in the first 7 months of 2020 reached 1,585.2 USD / ton, down 9.1% over the same period. period year 2019.

According to the Import-Export Department in the near future, tea prices will increase due to a shortage of tea globally, many tea-producing countries in the world will be affected by floods and social disruptions to prevent the spread of tea. disease spread.

Tea prices are forecast to increase due to a global shortage of tea - Photo 1.

Tea exports to some major markets in the first 7 months of 2020. Source: Ministry of Industry and Trade / General Department of Customs.

In the first 7 months of 2020, Vietnam’s tea exports to some markets decreased such as: Pakistan reached 19,400 tons, worth $ 36.7 million, down more than 10% in volume and more than 15% in value over the same period in 2019.

The share of tea exports to this market decreased from 31.1% in the first 7 months of 2019, to 27.1% in the first 7 months of 2020.

Followed by Taiwan, China, Iraq. Notably, Vietnam’s tea exports to some markets increased such as: Russia reached 8,500 tons, worth 12.9 million USD, up 10.8% in volume and 11.7% in value; Indonesia reached 6,500 tons, worth 5.9 million USD, up 25.4% in volume and more than 18% in value over the same period in 2019 …

Notably, tea exports to the United Arab Emirates market increased sharply to 1,300 tons, worth $ 2.1 million, up 216% in volume and 213.7% in value over the same period in 2019. .



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