Information from the Ministry of Industry and Trade and the General Department of Customs (Ministry of Finance) said that in March, exports of cassava and cassava products increased sharply again compared to February.
Exporting cassava and cassava products earns more than 1 billion USD each year, creating jobs for over 1.2 million workers.
Specifically, in March, domestic enterprises exported 314,860 tons of cassava and cassava products, worth 142.09 million USD, up 45.1% in volume and 47.6% in value compared to February; up 14.7% in volume and 35.5% in value compared to the same period in 2023.
Cumulative statistics for the first three months of this year showed that cassava and cassava products were exported to 944,930 tons, worth 430.44 million USD, down 3.3% in volume but up 15.6% in value over the same period in 2023.
Regarding export prices, in March 2024, the average price of cassava and cassava products reached 451.3 USD/ton, up 1.7% compared to February 2024 and up 18.2% compared to March 2023. In the first 3 months of this year, the average export price of cassava and cassava products reached 455.5 USD/ton, up 19.5% over the same period in 2023.
Analyzing the market structure from the Ministry of Industry and Trade and the General Department of Customs, in March, China was still the largest export market for cassava and cassava products of Vietnam, accounting for 94.24% of the total cassava export volume of the country, reaching 299,260 tons, worth 133.56 million USD, up 50.7% in volume and 55.1% in value compared to February.
Compared with March 2023, Vietnam's exports of cassava and cassava products to China increased by 33.2% in volume and 59.6% in value.
In the first 3 months of the year, China was the largest export market for cassava and cassava products from Vietnam. Specifically, China imported 890,550 thousand tons of cassava and cassava products, with a total value of over 400 million USD, an increase of 20.7% in value compared to the same period in 2023.
According to statistics from the Chinese Customs, Thailand, Vietnam, Laos and Cambodia are the four markets that supply the majority of cassava chips for consumer demand in China.
Notably, in the first two months of this year, Vietnam surpassed Thailand to become the largest market supplying cassava starch to China with a volume of 267,930 tons, worth 137.94 million USD, an increase of 10.6% in value over the same period in 2023.
In contrast to the Chinese market, exports of cassava and cassava products to Japan and South Korea in the first three months of this year decreased sharply. Specifically, the Korean market decreased by more than 96%, the Japanese market decreased by 77% compared to the same period in 2023.
According to the Ministry of Agriculture and Rural Development, cassava is one of the three main crops in the billion-dollar export agricultural products group of the agricultural sector, creating jobs for over 1.2 million workers. In 2023, Vietnam will export over 2.95 million tons of cassava and cassava products, earning 1.3 billion USD.
Every year, China is the main export market, accounting for more than 90% of Vietnam's total cassava and cassava product exports. Of which, more than 65% of cassava exports to China are carried out in the form of small-scale trade, delivered at the border, through border gates in Lang Son, Quang Ninh, and Lao Cai provinces.
The Ministry of Industry and Trade has repeatedly recommended that cassava enterprises need to have a roadmap to convert to informal export and invest deeply in processing technology to increase export value for this industry.
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