Vietnam exported 121,000 tons of tea in 2023, earning $211 million, down 16.9 per cent year-on-year in volume and 10.9 per cent in value, figures from the General Department of Vietnam Customs show.

In the fourth quarter of 2023 alone, tea exports totaled 39,300 tons, worth $70 million, up 16.7 per cent and 18.1 per cent, respectively, compared to the third quarter.

The average export price for Vietnamese tea was some $1,737.3 per ton, up 7.3 per cent year-on-year. The price in the fourth quarter stood at $1,778.9 per ton, a year-on-year rise of 30.1 per cent.

Exports last year declined due to falling market demand and stricter requirements imposed in key export markets, according to the Ministry of Agriculture and Rural Development.

Vietnam currently has 120,000 hectares growing tea and 257 large-scale tea processing businesses producing nearly 200,000 tons each year.