Cassava and cassava products exports reached over 950 million USD, China is still the main consumer market.

In the first 10 months of 2024, cassava and cassava products exports reached more than 2.09 million tons, worth more than 955 million USD, down 12.7% in volume and 7% in value over the same period.

According to preliminary statistics from the General Department of Customs, Vietnam's cassava and cassava product exports in October reached more than 176 thousand tons with a value of more than 76 million USD, a sharp increase of 45.7% in volume and 34% in value compared to the previous month.

Cassava alone saw a sharp increase in export output of 239% in volume and 208% in value, equivalent to more than 24 thousand tons and reaching a value of more than 6 million USD in October.

In the first 10 months, the export of cassava and cassava products reached more than 2.09 million tons, worth more than 955 million USD, down 12.7% in volume and 7% in value compared to the same period in 2023.

Cassava and cassava products exports reached over 950 million USD, China is still the main consumer market. Photo: TL

In terms of market, China continues to be the largest importer of cassava from Vietnam with more than 1.93 million tons, worth more than 873 million USD, down 11.6% in volume and 6% in value compared to the same period last year. Price increased by 6% over the same period, reaching an average of 452 USD/ton.

Ranked second is the Taiwanese market (China) with more than 40 thousand tons, worth more than 22 million USD, up 2.5% in volume and 8% in value. The average import price reached 542 USD/ton, up 6%.

South Korea is the third largest market with more than 37 thousand tons, worth more than 11.8 million USD, down 61% in volume and 66% in value. The average price is 316 USD/ton, down 14%.

According to the Ministry of Agriculture and Rural Development , there are currently over 140 cassava starch processing factories nationwide, with a total designed capacity of 13.4 million tons of fresh tubers/year, and a total actual capacity of 9.3 million tons/year. Vietnam is currently the second largest cassava exporter in the world after Thailand, with a turnover of over 1 billion USD in the last 5 years.

Our country has about 530,000 hectares of cassava, with an annual output of more than 10 million tons. However, the amount of cassava chips stored by businesses in the 2023-2024 crop is very low, estimated to be only 60% of the stored output of the 2022-2023 crop.

According to the Import-Export Department ( Ministry of Industry and Trade ), since the beginning of October, cassava output to factories has increased, while the export of cassava starch has been slow. Therefore, some factories in the Central and Central Highlands regions have reduced their raw material purchase prices. In early November, the purchase price of raw cassava in some provinces in the Central and Central Highlands regions fluctuated at 1,900-2,300 VND/kg, down 100 VND/kg compared to the beginning of October.

Although cassava starch exports have increased sharply in the past 10 months, in recent months, China's demand for cassava starch imports has decreased sharply, affecting the price of cassava in Vietnam. The cassava starch prices offered to major Chinese ports are all low, causing the price of cassava starch in Vietnam to decrease.

Specifically, in the first days of November 2024, the export price of cassava starch offered by Vietnamese factories was at 460-480 USD/ton (FOB) at Ho Chi Minh City port, down 20 USD/ton compared to the beginning of October. The export price of cassava starch through Lang Son and Mong Cai border gates also fluctuated at 3,400-3,520 CNY/ton, down 1,000 CNY/ton.

According to information from cassava chip businesses, the market for cassava chips in the 2024-2025 crop is expected to continue to have a downward trend in price and demand. Therefore, some businesses with cassava chips in stock from the 2023-2024 crop are forced to open their warehouses to sell at a loss and refinance for the new 2024-2025 crop.

Source: https://congthuong.vn/xuat-khau-san-va-san-pham-tu-san-dat-tren-950-trieu-usd-trung-quoc-van-la-thi-truong-tieu-thu-chinh-358705.html