Tea exports heat up in first eight months, despite....

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Tea exports heat up in first eight months, despite....

Tea exports heat up in first eight months, despite economic chill

Published on : September 13th, 2011

Tea exports increased to 83,000 tonnes and earned US$107 million during the first eight months of this year, a 19.5 per cent increase in volume and 11.7 per cent increase in value compared to the same period last year, according to the Viet Nam Tea Association.

Exports totalled 15,000 tonnes and earned $21 million in August alone, said association vice chairman Tran Van Gia, at average prices of $1,350 per tonne – $65 higher than the price in July and $66 higher than in August a year ago.

The tea industry has projected total exports this year of 117,000 tonnes, earning $167 million, making it one of the few agricultural sectors with a higher target during the global economic downturn.

The Ministry of Agriculture and Rural Development has targeted tea production of 250,000 tonnes per year by 2020, 70-75 per cent of which would be for export. The ministry said that this year, yields of 6.5 tonnes per hectare were expected due to favourable natural conditions – higher than the 5.9 tonnes per hectare yields of 2008.

Viet Nam exports tea to 110 countries and territories around the world, and the Che Viet trademark is registered in 70 countries and regions. The country now ranks fifth in the world in terms of output and exports, with major export markets including Pakistan, Russia, China, Afghanistan and Taiwan, Gia said.

As early of August, Gia added, a feasibility study was conducted on construction of the nation's first tea auction floor, expected to become operational in 2011 or 2012. In addition to serving as a marketplace, the auction floor would be indispensable to Viet Nam enforcing higher standards for its tea industry, he said.

Source: VNS

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