Tea exports fall in Q1 due to COVID-19

VNA
Vietnam suffered a reduction of tea exports in the first quarter of this year due to the impact of the COVID-19 pandemic, according to the Ministry of Agriculture and Rural Development.

Vietnam's tea exports in the first quarter declines by 2.5 percent in volume to 26,000 tonnes. (Photo congthuong.vn)

Vietnam's tea exports in the first quarter declines by 2.5 percent in volume to 26,000 tonnes. (Photo congthuong.vn)

Its tea exports in the first quarter declined by 2.5 percent in volume to 26,000 tonnes and by 19 percent in value to US$37 million compared to the same period last year. Of which, exports reached 9,000 tonnes of tea in March, earning US$12 million.
According to the Vietnam Tea Association, the COVID-19 pandemic had greatly impacted many key export markets of Vietnamese tea. Especially, the tea exports to Taiwan, mainland China and Russia mostly stopped.
Meanwhile, partners in other markets asked to reduce prices or delay deadlines to receive tea exports and even cancel contracts. Local enterprises have been not able to sign new export contracts.
The ministry said in the first two months of this year, Pakistan, Russia, Taiwan, Indonesia and the US were the five major export markets of Vietnam’s tea products, accounting for 74.5 percent of total national tea export value.
Average export tea price in the first two months reached $1,481 per tonne, down 13.5 percent compared to the same period in 2019.
The tea exports to China, one of the largest export markets for Vietnamese tea last year, dropped sharply in the first two months due to restrictions in customs clearance during the COVID-19 pandemic and long Tet (Lunar New Year) holiday.
Tea exports from Vietnam to China in the two months fell by 54.1 percent in volume to 364 tonnes and by 87.4 percent in value to $427,000 year on year.
The reduction made China drop to 10th place in Vietnam’s top 10 largest tea export markets from third place in the same period of last year.
The ministry also said in the domestic market, in March, the tea price in Thai Nguyen province, one of the largest tea producers in Vietnam, dropped by 5,000-10,000 VND per kilo to VND130,000-220,000 .
That price was stable at VND9,500 per kilo in Lam Dong province, another large tea producer.

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