AsemconnectVietnam - In October of 2023, Vietnam's export of cassava and cassava products continued to grow, the export prices increased sharply to the highest level since the beginning of 2023 until now.

The Import-Export Department (under the Ministry of Industry and Trade) cited the statistics figures from the General Department of Customs as saying that in October of 2023, Vietnam exported 268,370 tonnes of cassava and products from cassava, worth of 136.49 billion USD, up by 2.1% in volume and 11.1% in value compared to September of 2023. The figure was up by 12.6% in volume and up by 33% in value compared to October of 2022.
In the first 10 months of 2023, the exports of cassava and cassava products reached over 2.39 million tonnes, worth of 1.02 billion USD, down by 6.4% in volume and 8.8% in value compared to the same period of 2022.
In October of 2023, the price of cassava and cassava products for export increased sharply to the highest level since the beginning of 2023 until now. Accordingly, the average export price of cassava and cassava products was at 508.6 USD/tonne, up by 8.8% compared to September of 2023 and up by 18.1% compared to October of 2022.
In October of 2023, China is still Vietnam's largest export market for cassava and cassava products, accounting for 90.01% in volume and 91.49% in value of total cassava and cassava exports. The country's cassava products reached 241,550 tonnes, worth of 124.88 million USD, down by 4.7% in volume, but up by 6.2% in value compared to September of 2023. In comparison to October of 2022, it increased by 16.6% in volume and 40.2% in value.
The average export price of cassava and cassava products to China was at 517 USD/tonne, up by 11.5% compared to September of 2023 and up by 20.2% compared to October of 2022. In the first 10 months of 2023, Vietnam exported 2.18 million tonnes of cassava and cassava products to China, worth of 929.57 million USD, down by 6.2% in volume and 9.3% in value compared to the same period of 2022.
In the first 10 months of 2023, although the amount of cassava exported decreased, the exports of cassava and cassava products to some markets still grew well in both volume and value compared to the same period of 2022, such as Taiwan market, Malaysia, Japan, etc. However, these markets only accounted for a small proportion of the country's total cassava exports.
It is expected that the supply of cassava chips will decrease when entering the upcoming December production season.
According to the Vietnam Cassava Association, in early October of 2023, the price of fresh cassava in the Northern provinces was stable compared to the end of last month, currently the purchasing price fluctuates at 2,400 - 2,450 VND/kg. In the Central provinces, the price of fresh cassava is purchased at 2,400 - 2,600 VND/kg. The price of fresh cassava purchased in Kon Tum fluctuates at 2,900 - 3,100 VND/kg. The price of cassava starch and cassava chips for export is also stable compared to the end of last month.
Currently, Vietnamese factories are offering cassava starch at prices ranging from 535-550 USD/tonne FOB Ho Chi Minh City port. The price of cassava starch delivered in Mong Cai and Lang Son fluctuates at 4,100 - 4,350 CNY/tonne. Meanwhile, the export price of iron slices to the Chinese market is about 295 USD/tonne FOB Quy Nhon; and the export price to the South Korean market was about 335 USD/tonne FOB Quy Nhon.
According to an announcement from China, the country will apply the policy of importing border residents from November 1, 2023. Accordingly, goods that are not processed locally such as cassava flour, dried tea leaves, cashew nuts and other dry goods will not be subject to direct customs clearance regulations "including imported vehicles, "all vehicles exported" as recently, but restored the regulation of 8,000 yuan per person/day/vehicle. Accordingly, the pick-up fee at the border gate area on the Chinese side increased by about 100 yuan/tonne for loading and unloading costs, transit vehicles, taxes and other fees.
This year, prolonged heavy rains in the Southeast provinces and Cambodia have caused the quality of harvested cassava to be poorer than usual. It is expected that the supply of cassava chips when entering the upcoming December production season will decrease, due to the forecast that the source of fresh cassava roots will decrease sharply.
In the 2023/24 crop year, units trading in this product may have to increase imports of cassava chips from Laos and Cambodia to Vietnam to meet the needs of domestic animal feed factories, as well as for export.
In Phu Yen, the Phu Yen Department of Agriculture and Rural Development said that in the 2023/24 crop year, farmers in the province have currently harvested 2,998/26,256 hectares of cassava, with an estimated yield of 21 tonnes/ha. Cassava has been the main crop grown for many years by farmers in Song Hinh, Dong Xuan, Son Hoa, Tuy An, Tay Hoa districts, etc.
In Thanh Hoa, cassava is one of the three main crops of the province, only after rice and corn. Currently, in Thanh Hoa province there are 5 cassava starch processing factories, with a scale of 600 tonnes of products/day, according to which the raw material demand for production requires 250,000-300,000 tonnes of fresh cassava.
This can be considered a stable purchasing market, helping cassava growers feel secure in production. Each year in the province there are nearly 14,000 hectares of cassava, with a total output of about 200,000 tonnes as raw materials to serve cassava starch processing factories in the province.
CK
Source: VITIC/congthuong.vn