Tea exports in the first 9 months of the year reached more than 98,000 tons
The volume of tea exported to many markets decreased in the first months of the year, especially the two main markets, including Pakistan and Taiwan, with 47.3% market share.
Data from the Agro Processing and Market Development Authority - Ministry of Agriculture and Rural Development shows that tea export volume in September 2020 is estimated at 13,000 tons with a value of USD 22 million, bringing the volume and value of tea export in the first 9 months of 2020 to 98,000 tons and USD 157 million, an increase of 3.5% in volume but a decrease of 5% in value compared to the same period in 2019. The average export tea price of 8 months of 2020 reached USD 1,594/ton, a decrease of 9.3% over the same period in 2019.
In the first 8 months of 2020, the volume of tea exported to many markets decreased, especially the two main markets, including Pakistan and Taiwan, with 47.3% market share.
Specifically, for the first 8 months of 2020, tea exports to Pakistan only reached 24,400 tons, equivalent to USD 46.4 million, a decrease of nearly 7% in volume and 12% in value over the same period in 2019; Exports to Taiwan reached 11,000 tons, equivalent to USD 17.3 million, a decrease of nearly 12% in volume and a decrease of 10.6% in value over the same period in 2019. According to the Agro Processing and Market Development Authority, purchasing power of these two markets decreased due to the negative impact of the COVID-19 pandemic.
In the world market, tea prices continue to increase in major markets. Specifically, the price of tea in India continued to rise to an unprecedented level due to supply affected by flooding in major growing states and the easing of lockdowns in several states.
The impact of low supply due to weather conditions and domestic and regional conditions also helped tea prices in Kenya continue to improve in September.
In India, the average tea price for the month as of September 12 at the opening sessions of CTTA reached USD 2610/ton, an increase of USD 380/ton compared to the previous month.
BP1 tea spot prices at auctions in the month (as of September 16) at the Mombasa exchange, Kenya, averaged USD 4,620/ton, an increase of USD 890/ton over the previous month.
In the domestic market, the price of raw tea materials in September 2020 experienced very little price fluctuation. In Thai Nguyen, the price of quality small branches remained at VND 190,000/kg, dried green tea leaves VND 90,000/kg, and dried green tea leaves (pre-processed type 1) at VND 120,000/kg.
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