In the first eight months of 2024, Vietnam earned nearly VND 4 trillion from tea exports, surpassing the total export revenue of last year.
According to the General Department of Vietnam Customs, Pakistan remained the largest importer of Vietnamese tea, with a value of USD 62.3 million, marking an 11.3% increase compared to the same period last year.
China also showed strong growth, spending USD 13.2 million on Vietnamese tea, more than double the amount from the previous year. While the price of tea exported to Pakistan remained the highest, maintaining over USD 2,000 per ton, prices in other markets ranged between USD 1,600 and USD 1,800 per ton. Notably, despite China tripling its purchase volume, the average tea price in this market only reached USD 1,458 per ton, a decrease of nearly 40%.
Industry experts noted that 2024 is a year of positive signals for tea exports, with many markets increasing their purchase volumes by 50% to 230%. Businesses are hopeful that tea exports in the last four months of the year will reach a new record, potentially surpassing the USD 229 million mark set in 2011.
The Department of Import and Export under the Ministry of Industry and Trade also sees opportunities to expand Vietnam's tea market. However, to remain competitive, the sector needs to focus on improving quality and diversifying products. In addition, businesses should promote the production of organic tea and apply modern processing techniques to enhance product value.
Last year, Vietnam exported about 85,000 tons of tea, earning USD 157 million, currently ranking as the world's 5th largest tea exporter.
Tea exports to the U.S. also saw a significant increase, reaching nearly USD 8 million.
As of the end of August this year, Vietnam exported 92,800 tons of tea, generating USD 162.62 million (approximately VND 3.97 trillion at the exchange rate on September 29), surpassing last year's tea export revenue.
Australia has made another stride in its agriculture sector by announcing an agreement to export plums to Vietnam in the near future, in addition to the current exports of peaches and nectarines. This project is part of a two-way agricultural market access agreement aimed at providing Australian plums to Vietnam and Vietnamese passion fruit to Australia.
Vietnamese tuna is enjoying many advantages in the UK market thanks to tariff incentives from the UK - Vietnam Free Trade Agreement (UKVFTA).
International media reports indicate that the container ship congestion at Singapore-one of Asia's busiest ports-has reached its worst level since the pandemic and has now spread to nearby ports like those in Malaysia. This situation poses a risk to the global supply chain and is causing delays in the shipment of goods within the region.
Every year, October 13th marks Vietnam Entrepreneurs' Day, commemorating a significant chapter in the nation's economic development. Over the past 20 years, Vietnamese entrepreneurs have demonstrated their resilience, creativity, and courage in continually innovating and driving the country's economy forward.
The Mid-Autumn Festival is upon us once again, bringing with it joy and warm moments of reunion.
On September 5th, 2024, Glotrans officially became a member of the Binh Duong Logistics Association (BLA), marking an important milestone. This event opens up many new collaboration opportunities, enhancing Glotrans's competitiveness and positively contributing to the logistics industry's development in Binh Duong.
