Vietnamese honey gets a sweet deal in Taiwan
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Vietnam’s honey exports to Taiwan rose by 57 percent last year to US$1.64 million, thanks to competitive prices and growing quality.
Oanh, a woman from the northern province of Hai Duong who is working in Taiwan, said Taiwanese increasingly prefer Vietnamese honey due to its better prices than Thai products.
Last year Vietnam was the second largest natural honey exporter to Taiwan, accounting for nearly 10 percent of the latter’s total imports. Its export volumes rose by 44 percent to 382 tons, according to statistics from Taiwan’s Bureau of Foreign Trade.
In the first two months of 2022 exports quadrupled year-on-year to 46 tons. Vietnam exports 54,000 tons of honey annually, 95 percent of it to the U.S.Exporters said Taiwan is a promising market for honey due to growing demand.
But the U.S. has imposed a preliminary anti-dumping tax of over 410 percent on Vietnamese honey.
Its import tax on honey from other countries is around 30 percent.
Questions & Answers
Q.What is the primary reason for the increase in Vietnamese honey exports to Taiwan?
What is the primary reason for the increase in Vietnamese honey exports to Taiwan?
The rise in exports is attributed to Vietnamese honey having competitive prices and improved quality. Taiwanese consumers are reportedly preferring it over products from Thailand due to better pricing.
Q.How significant is Vietnam's overall honey export to Taiwan compared to its total exports?
How significant is Vietnam's overall honey export to Taiwan compared to its total exports?
Vietnam exported 382 tons of natural honey to Taiwan last year, representing nearly 10 percent of Taiwan's total imports. However, 95 percent of Vietnam's 54,000 tons of annual honey exports typically go to the U.S.
Q.Why might Vietnam be focusing more on the Taiwanese market despite its large exports to the U.S.?
Why might Vietnam be focusing more on the Taiwanese market despite its large exports to the U.S.?
Exporters see Taiwan as a promising market with growing demand. This is particularly relevant as the U.S. Has imposed a preliminary anti-dumping tax of over 410 percent on Vietnamese honey, significantly higher than its standard import tax for other countries.
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