Sri Lanka, Vietnam seek greater bilateral trade in tea, coffee space

MUMBAI: World's leading tea producers Sri Lanka and Vietnam sought a greater bilateral trade with India in the fast growing tea and coffee sectors.

Today, there is a need for India and Vietnam to join hands and increase trade between the two countries in the fast growing tea and coffee sectors, Vietnam's Minister of Agriculture and Rural Development Vu Van Tam told reporters after inaugurating "3rd World Tea & Coffee Expo 2015" here.

Vietnam is a leading tea producer in Asia and exporting their product to Europe and Africa.

The Vietnamese tea industry has both large-scale companies and approximately 60 per cent of the tea produced in Vietnam is cut-tear-curl black tea, 35 per cent is green, and 5 per cent is other speciality varieties such as lotus or jasmine tea.

In view of the tremendous scope in these sectors, we have come with a business delegation of 20 leading companies from Vietnam to be part this niche expo which offers a unique networking platform with Indian and international companies in the hot beverage sector, Tam said.

Echoing similar sentiments, Saroja Sirisena, Counsul General of Sri Lanka said, India and Sri Lanka can combine their natural advantages to increase their share in the world tea markets. Several leading tea companies from Sri Lanka's presence at the expo is a step in the right direction."

Today, India produces 1000 million kgs of tea and exports around 200 million Kgs, while rest consumed in the country. India's per capita consumption of tea is 600 grams per person per day, Sentinel Exhibitions Asia Director, Priti M Kapadia said.

Similarly, the country produces 4 lakh tones of coffee and exports 3 lakh tones in the overseas markets, Kapadia said.

Internationally, the ready-to-drink tea and coffee market is growing annually at 11 percent and likely to touch USD 125 billion by 2017 with the highest growth coming from the Asia-Pacific region, she said.

The three-day trade fair is India's only International show dedicated to the tea and coffee sectors and provides the perfect environment for the hot beverage industry to meet face-to-face and develop real business opportunities, a statement issued here said.

"The Expo will emphasize the prospects of the Hot Beverage sector by showcasing exotic products and technological innovations in this important sector," Kapadia said.