China’s Increasing Investment in Vietnam’s “Green Gold” Despite Being the World’s Leading Exporter: Generating Hundreds of Million of USDs in 2023, Only 1/6 of the World Can Offer

Vietnam produces nearly 200,000 tons annually and is being sold at a high price.

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According to the preliminary statistics of the General Department of Vietnam Customs, Vietnam’s tea exports in December reached 13,723 tons with a value of over $23 million, an increase of 11.3% in volume and 5.1% in value compared to the previous month. Accumulated for the whole year of 2023, our country exported 119,794 tons of tea and earned over $208 million, a decrease of 18% in volume and 12% in value compared to 2022.

The average export price of tea reached $1,738 per ton, representing a 7% increase over 2022.

In terms of tea product types exported in 2023, the leading types in terms of volume and value are green tea with 57,500 tons, valued at $113.5 million. This is followed by black tea, flower-infused tea, and Oolong tea.

In terms of markets, Pakistan, Taiwan (China), and Russia are the three largest markets for Vietnamese tea, accounting for 39%, 11%, and 5% respectively. However, one market that has experienced a significant increase in tea imports in the last two months of the year is the Chinese market.

Specifically, in December, tea exports to China reached 1,520 tons and earned over $2.1 million, a strong increase of 32% compared to the output of November and 7 times higher than that of October.



Overall in 2023, Vietnam exported 5,940 tons of tea to China and earned over $11.5 million, a decrease of 43% in volume and 35% in value compared to 2022.

The average export price reached $1,944 per ton, an increase of 12% compared to the previous year.

Interestingly, China is the largest tea producing country in the world. In the 2021-2022 crop year, China produced 2.4 million tons of tea. The Chinese Ministry of Agriculture also revealed that the country owns more than 2 million hectares of tea plantations, distributed in the provinces of Sichuan, Hubei, Fujian, Yunnan, and Hubei, and plays an important role in the economic development of this populous country. Chinese tea export markets include Europe, America, and Asia.

Currently, there are about 40 countries in the world that grow tea, accounting for about 15% of the world’s regions. Tea trees are mainly grown in tropical and subtropical climates, so tea plants are most concentrated in Asia, with 8 countries among the top tea producing countries in the world, including Vietnam.

According to the Ministry of Agriculture and Rural Development, the target by 2030 is for Vietnam’s tea area to reach from 135,000 to 140,000 hectares. By 2025, around 55% of tea plantations will be certified as safe, and by 2030, this number will reach about 75%.

SOURCEcafef
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