[Market News] Tea ranks top 5 in the world, earning nearly 30 million USD in 2 months

In the first 2 months of the year, cassava exports earned 300 million USD

According to preliminary statistics from the General Department of Customs, export of cassava and cassava products in February earned more than 96 million USD with 217,037 tons, down 48.7% in volume and down 50.8% in value compared to January. Accumulated in the first 2 months of this year, cassava export output of all kinds reached 639,061 tons, down 9.1% compared to January. over the same period while the value increased sharply by 8.9%, reaching more than 291 million USD.

The bright spot of cassava exports in the first 2 months of the year is that the price increased sharply over the same period last year, reaching an average of 456 USD/ton, up 20% compared to 2M/2023. Meanwhile, the average cassava export price in 2023 is only 282 USD/ton.

One country that has always been a loyal customer of cassava and cassava products is none other than neighboring China. At the end of February, our neighbors imported 599,930 tons of cassava from our country worth more than 269 million USD, accounting for 93% of both volume and turnover.

In 2023, our country’s export of cassava and cassava products will reach 2.95 million tons, worth 1.3 billion USD, down 9.1% in volume and down 7.3% in value compared to 2022. Cassava products alone have brought in more than 231 million USD with 821.51 thousand tons, up 8% in volume and up 4.9% in value compared to last year. 2022. In 2023, China will still be Vietnam’s largest consumer market for cassava and cassava products, accounting for 91.52% in volume and 90.99% in value of the country’s total exports, reaching 2.7 million tons, worth 1.18 billion USD.

Vietnam exports to China mainly cassava starch and dried cassava chips. The amount of cassava chips exported to China accounts for about 88% of the country’s total amount of cassava chips exported while the amount of cassava starch exported to China accounts for about 93% of the total amount of cassava starch exports.

Vietnam’s tea export ranks in the top 5 in the world, earning nearly 30 million in 2 months

According to preliminary statistics from the General Department of Customs, Vietnam’s tea exports in February 2024 reached 5,283 tons with a value of more than 8.2 million USD, down 57.4% in volume and down 60.7% in value compared to the previous month.

In the first 2 months of the year, Vietnam earned 29.2 million USD with 17,653 tons of tea, an increase of 30.6% in volume and 29.3% in value compared to the same period in 2022. The average export price reached 1,652 USD/ton, a slight decrease of 0.7% over the same period.

In February, tea exports to main markets such as Pakistan, Taiwan (China) and Russia all decreased compared to January. In general, the average export price of tea products to most markets fluctuated around 1,300 – 1,600 USD/ton. However, Vietnam still records some markets with average export prices much higher than other markets.

Pakistan is still Vietnam’s largest tea export market with 5,479 tons of tea, worth more than 10.8 million USD, up 2.9% in volume and 16.2% in value compared to January 2023. Export price reached 1,987 USD/ton, up 12.8% over the same period.

Taiwan (China) is the second largest market in the first 2 months of 2024. Our country exported 1,847 tons of tea to this market and earned 2.84 million USD, an increase of 21.8% in volume and 16.2% in turnover over the same period. Export price reached 1,539 USD/ton, down 4.6%.

Ranked third is the Russian market. In 2 months, this country imported 1,031 tons of tea from Vietnam, equivalent to more than 1.6 million USD, down 18.2% in volume and 22.2% in value over the same period. Export price reached 1,570 USD/ton, down 4.8% over the same period.

While exports to the main markets recorded a decreasing or slightly increasing trend, the European region appeared to have a market promoting purchasing, including Poland.

Tea exports to Poland in February 2024 increased by 37.8% in volume and 93.5% in turnover. Accumulated in the first 2 months of the year, our country exported 180 tons of tea, earning 273,441 USD from Poland, an increase of 195% in volume and 277% in value, accounting for more than 1% of total export output.

Fruit and vegetable exports increased by more than 45%

In the first 2 months of 2024, fruit and vegetable exports continue to maintain impressive growth momentum and are expected to set a new record of 6.5 billion USD in 2024.

According to the latest statistics from the General Department of Customs, fruit and vegetable exports in February reached 325.76 million USD, down 33.6% compared to the previous month.

Although there was a decrease in February, in the first 2 months of the year, the export of this product still achieved high growth. Specifically, by the end of February, fruit and vegetable export turnover reached more than 815 million USD, up 45.1% over the same period last year. This is one of the key product groups with high growth in recent times.

According to Ngoc Ngan – Industry and Trade Newspaper