According to preliminary statistics from General Department of Customs, Vietnam's cassava and cassava product exports in June earned more than 68 million USD with an output of 141,228 tonnes, up sharply by 19.2% in volume and 31.7% in value compared to May 2024.
In the first half of this year, cumulative export output of cassava and cassava products earned more than 630 million USD, equivalent to more than 1.3 million tonnes, down 7.7% in volume but up 6.2% in value compared to the same period in 2023.
Highlight of cassava exports in the first half of the year was the sharp increase in export prices. Average export price reached 454 USD/tonne, up 15% over the same period in 2023.
In terms of export markets, China continues to be Vietnam's largest export market, accounting for the largest proportion. Specifically, in the first 6 months, this market imported more than 1.26 million tonnes of cassava from Vietnam with a turnover of 569 million USD, down 6% in volume but up 9% in value compared to the same period in 2023.
Average export price reached 451 USD/tonne, up 16% over the same period in 2023.
South Korea is Vietnam's second largest cassava export market with 35,849 tonnes, worth nearly 10.1 million USD, down 54% in volume and 62% in value. Export prices decreased by 18% compared to the same period last year, reaching 306 USD/tonne.
Taiwan (China) ranked 3rd with 27,697 tonnes, equivalent to more than 15 million USD, up 4% in volume and 15% in value. Export prices also recorded an increase of 11%, reaching 553 USD/tonne.
In addition to the 3 main markets above, Vietnam also exports to other markets such as Malaysia, Myanmar, Japan, ...
According to General Statistics Office, in 2023, cassava area nationwide will reach about 511.500 hectares, down 18.800 hectares compared to 2022. Output is estimated at 10.43 million tonnes of fresh tubers, down about 196.300 tonnes compared to 2022. Together with Thailand, Vietnam is currently dominating global export supply with a turnover of more than 1.3 billion USD in 2023.
Cassava starch exports to China in recent months have been by sea, much higher than cross-border exports. According to Agromonitor - Agricultural Market Analysis, from June 1 to 28, cassava starch exports by sea reached nearly 84,000 tonnes, 5.5 times higher than amount of starch exported through cross-border trade.
Vietnamese cassava traders are expecting cassava and cassava products to recover from this July. Regarding cassava chips, it is forecasted that Chinese factories will likely buy again from around July 2024, when inventory of cassava chips in China is gradually depleting due to a sharp decrease in imports in recent times.
In context of rising prices of many foods in Europe, especially wheat, Vietnamese businesses need to seize opportunity to open market for cassava products in the EU.
According to news from cassava factories, demand for goods from China has shown signs of improvement as demand for moon cake production is approaching. In context of the US dollar appreciating against Chinese Yuan, Chinese customers want to buy in CNY instead of USD. Along with that, trend of buying cassava starch in Chinese Yuan has increased slightly.
Thai Cassava Association announced that selling price of cassava starch decreased by 05 USD/tonne compared to the previous week, at 530 USD/ton FOB Bangkok (announced on 09/07/2024) due to preparation for new crop.
Currently, Vietnamese factories are offering cassava starch at prices ranging from 495 - 520 USD/tonne FOB Ho Chi Minh City port. According to news from cassava chip exporters, currently, Chinese customers are showing signs of returning to ask for goods and accepting higher prices of about 5 - 7 USD/tonne due to Thailand's price increase. However, because Vietnam's cassava chip inventory for 2023-2024 crop is not large, exporters are still waiting for prices to increase before selling.
Cassava plants bring in billions of USD in export turnover for Vietnam each year. In addition to cassava tubers, which bring in the largest export turnover, other parts of plant also bring high economic value and many uses in industrial processing, animal feed and food.
Cassava tubers are used for fresh consumption, animal feed, processing of dried cassava chips, ground cassava flour, cassava starch, modified cassava starch, cassava starch products. Cassava stems are used for breeding, making mushrooms, making firewood and raw materials for cellulose industry. Cassava leaves are used as feed in livestock farming such as fish farming, silkworm farming and then exported to markets in Korea, Japan and areas with a large Asian population.

Source: Vitic/ congthuong.vn