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VietNamNews

Tea to brew up high profits in 2012

Update: January, 09/2012 - 10:30
Workers at Moc Suong Tea Company pick tea leaves for export. Tea and coffee are forecast to bring big profits to investors this year. —VNA/VNS Dieu Chinh Toi
HA NOI — Tea and coffee and are two commodities forecast to bring big profits to investors this year thanks to their 100 per-cent localisation scale, economists said.

Investing in tea and coffee in 2012 would surely be highly effective and safe, said economist Bui Kien Thanh.

Thanh confirmed that Viet Nam was ranked the second biggest coffee exporter in the world with a total annual yield of more than 1 million tonnes, worth more than US$2 billion.

In terms of tea, Thanh said, the country ranked fifth with more than 1 million tonnes produced each year.

He added that products with a small localisation scale often reached a turnover of about $5-10 billion per year. Meanwhile tea and coffee, with high localisation scales, got lower incomes.

"This means there is a great deal of hidden potential to exploit," Thanh concluded.

With good investment strategy, they could earn high profits as well as help the economy in stable development, he added.

A report from the Ministry of Agriculture and Rural Development said that like other agriculture products, the price of tea and coffee climbed up last year.

Thanks to that, the country earned $2.7 billion from exporting 1.2 million tonnes of coffee. This export turnover increased by 45.4 per cent in value while the volume reached the same level last year.

Meanwhile, tea exports last year fell 4.3 per cent in volume and only 0.8 per cent in value over the previous year, the Ministry of Agriculture and Rural Development said.

The country exported 131,000 tonnes of tea last year, totalling $198 million. — VNS

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