Domestic companies are being encouraged to produce high-quality tea products, such as speciality teas, to serve local consumption and export demand.
Between 2018 and 2023, Vietnam exported between 125,000 and 140,000 tonnes of tea each year, bringing in revenue of US$220mil to US$240mil per year, according to the Vietnam Tea Association.
During the period, some enterprises had provided high-end tea products with prices ranging from US$15,000 to over US$50,000 per tonne, much higher than the average export price of Vietnamese tea at only US$1,700 to US$1,800 per tonne.
However, the ratio of the high-quality tea products remained low.
Nguyen Dang Ben, general-director of IGV JSC, which owns the Thach Co Tra brand, said that the revenue of the Vietnamese tea industry mainly comes from green and black teas, which are low-value tea products, so the industry’s revenue is low and producers do not enjoy high profits…
