SHORTAGE OF SUPPLY MADE THE TEA PRICE GOES UP

According to the Import-Export Department recently, tea prices will be rising up rapidly due to a shortage of tea globally, many tea-producing countries in the world will be affected by floods and social disruptions because of corona virus.

As information provided by General Department of Customs, in July 2020, tea exports reached 13.4 thousand tons, worth $ 22.2 million, up 15.1% in volume and decreased in volume. 1.3% in value over the same period in 2019. The average export tea price in July 2020 reached 1,659.3 USD / ton, down 14.3% compared to July 2019.

 

Accumulated from the beginning of 2020 to the end of July 2020, tea exports reached 71.3 thousand tons, worth $ 113 million, up 3.2% in volume and 6.1% in value over the same period in 2019. The average export tea price in the first 7 months of 2020 reached US $ 1,585.2 / ton, down 9.1% over the same period in 2019.

 
In the early 7 months of 2020, Vietnam's tea exports to some markets decreased such as Pakistan reached 19.4 thousand tons, worth $ 36.7 million, down 10.1% in volume and 15.1% in volume. value over the same period in 2019. The proportion of tea exports to this market downed from 31.1% to 27.1% in the early 7 months of 2020. Next is the Taiwan market. Loan, China, Iraq.



Notably, Vietnam's tea exports to some markets increased such as Russia reached 8.5 thousand tons, worth 12.9 million USD, up 10.8% in volume and 11.7% in value; Indonesia reached 6.5 thousand tons, worth 5.9 million USD, up 25.4% in volume and 18.1% in value over the same period in 2019 ... Tea exported to the Emirate market - The United Arab Emirates increased sharply to 1.3 thousand tons, worth $ 2.1 million, up 216% in volume and 213.7% in value over the same period in 2019.

 

As published by Business Line, global black tea output in the first half of 2020 decreased by 8.23% over the same period in 2019 (equivalent to a decrease of nearly 75 thousand tons). In particular, black tea output in most major production markets decreased, except for Kenya. Adverse weather, social dislocations and blockades imposed in many countries due to the Covid-19 epidemic caused a decline in global black tea production.

 
In the first half of 2020, the output of black tea in India reached 348.26 thousand tons, down 26.37% over the same period in 2019; Sri Lanka reached 128.64 thousand tons, down 18.52%; Bangladesh reached 21.81 thousand tons, down 21.97%; Malawi reached 31.17 thousand tons, down 10.17%. While Kenya's black tea output reached 301.61 thousand tons, an increase of 41.86% over the same period in 2019.

 

Source :http://m.cafef.vn

JEN T.N.P

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