Vietnam’s tea exports fall in both volume and revenue
Vietnam’s tea exports in the first eight months of 2018 dropped 10.1 percent year on year in volume to 81,000 tonnes, and 7.4 percent in value to 133 million USD, according to the Ministry of Agriculture and Rural Development (MARD).
Illustrative image (Source: VNA)Hanoi (VNA) - Vietnam’s tea exports in the first eight months of 2018 dropped 10.1 percent year on year in volume to 81,000 tonnes, and 7.4 percent in value to 133 million USD, according to the Ministry of Agriculture and Rural Development (MARD).
Pakistan was the largest consumption market of Vietnamese tea with export value of 37.3 million USD, 33.6 percent of the total. It was followed by Taiwan (China), Russia, China, Indonesia and the US, with respective values of 15.6 million USD, 12.8 million USD, 9.5 million USD, 5.4 million USD and 4.3 million USD.
Notably, the export of tea to Pakistan in the first seven months of 2018 increased 1,500 tonnes or 9.7 percent compared to the same period last year.
Export volume to Taiwan (China), China, Malaysia and the US also respectively rose 4.8 percent, 6.1 percent, 16.2 percent and 7.1 percent.
However, strong falls of tea export were reported in Russia and Saudi Arabia in the January-July period, dropping 1,300 tonnes or 13.2 percent and 2,000 tonnes or 60.9 percent, respectively.
The Department of Farm Produce Processing and Market Development under the MARD said domestic tea enterprises are facing difficulties caused by the trade war between the US and China.
It is necessary to have policies to support domestic tea firms in accessing capital and investing in technologies for intensive processing of tea products, the department said.
Attention should be also paid to devising measures to increase domestic consumption of tea, and diversifying tea products, especially organic and specialty products, towards increasing added value, it noted.-VNA
You should also see
Vietnam, China promote judicial cooperation
Minister of Justice Le Thanh Long held talks with his visiting Chinese counterpart He Rong in Hanoi on April 19 to discuss measures to promote judicial cooperation between the two countries.
See more
Business
Japan's Takashimaya plans to expand investment in Vietnam
Takashimaya, a Japanese operator of upscale department stores, plans to open a shopping centre in Hanoi in 2026 that will be the company's first new location abroad in eight years, Japanese newspaper Nikkei reported.
Business
Vietnam earns 1.43 billion USD from rice exports in Q1
ietnam in the first quarter of 2024 exported 2.18 million tonnes of rice, earning 1.43 billion USD, an increase of 17.6% in volume and 45.5% in value year on year. Meanwhile, the average export rice price also increased by 23.6% to $653.9 per tonne.
Business
Old loans must endure higher interest rates temporarily: central bank
The average lending interest rate for new loans by commercial banks is reported at around 6.4% per year, a decrease of 0.7 percentage point per year compared to the end of last year. However, borrowers with loans issued before the latest rate adjustment still must pay higher rates, according to the State Bank of Vietnam (SBV).
Business
Vietnam among top domestic infrastructure investors: Ambassador
Vietnam is one of the leading countries in Asia in terms of investment for infrastructure development, allocating 5.7% of its Gross Domestic Product (GDP) to projects in this field, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the United Nations (UN).
Business
Vietjet adds more flights to Dien Bien
To meet the rising demands to visit Dien Bien of people and tourists during the celebration of the 70th anniversary of the Dien Bien Phu victory, Vietjet increased the frequencies of flights between Hanoi, Ho Chi Minh City and the northwestern province to 28 per week.
