Vietnam has become the fifth largest tea exporter in the world, according to the Agro Processing and Market Development Department under the Ministry of Agriculture and Rural Development (MARD).

The country exported 108,000 tons of tea in the first three quarters of the year, earning $189 million, figures from the MARD show.

The figures represent a year-on-year increase of 31.9% in volume and 34.2% in value.

This is a marked acceleration from the end of July, when Vietnam was the world’s eighth-largest tea exporter only.

However, the export price of Vietnamese tea remains low, equivalent to only 65% of the global price and 55% of export price of teas from India and Sri Lanka.

Vietnam’s tea products have been exported to more than 100 countries and territories. Key markets include Pakistan, Taiwan (China), Russia, China, the US and the EU.

It is forecast that tea export revenue for 2024 would reach $299 million, surpassing the record of 2011.

In 2023, Vietnam exported 85,000 tons of tea, worth $157 million.