In 8 months, Vietnam earned more than 822 million USD from cassava exports.

According to preliminary statistics from the General Department of Customs, cassava and cassava products exports in August reached more than 191 thousand tons with a value of more than 86 million USD, down 12.4% in volume and 17.8% in value compared to the previous month.

In the first 8 months, our country earned more than 822 million USD from cassava exports, with output reaching more than 1.7 million tons, down 3.8% in volume but up 7% in value over the same period in 2023.

In terms of market, China continues to be the largest consumer of cassava from Vietnam with an output of more than 1.65 million tons, worth more than 751 million USD, down 2% in volume but up 9% in value over the same period. The average export price reached 454 USD/ton, up 12% over the same period last year.

In 8 months, Vietnam earned more than 822 million USD from cassava exports. Photo: VT

Coming in second is South Korea with more than 36 thousand tons, worth more than 11 million USD, down 54% in volume and 62% in value. The price also decreased 17% compared to last year, reaching 312 USD/ton.

Taiwan (China) is the third largest export market with nearly 34 thousand tons, worth more than 18 million USD, up 5.5% in volume and 15% in value. Export prices also recorded an increase of 9%, reaching 550 USD/ton.

Along with Thailand, our country is currently dominating the global export supply with a turnover of more than 1.3 billion USD in 2023. However, according to experts, Vietnam's cassava and cassava product exports still depend heavily on the Chinese market, which poses many risks.

The amount of cassava chips stored by businesses in the 2023-2024 crop is very low, estimated to be only 60% of the storage output of the 2022-2023 crop. The reason may be due to high input prices, lack of demand, and low output prices, causing great risks for businesses when storing goods in warehouses.

According to the General Statistics Office, in 2023, the cassava area nationwide will reach about 511.5 thousand hectares, a decrease of 18.8 thousand hectares compared to 2022. The output is estimated at 10.43 million tons of fresh tubers, a decrease of about 196.3 thousand tons compared to 2022. Together with Thailand, our country is currently dominating the global export supply with a turnover of more than 1.3 billion USD in 2023.

Cassava starch exports to China in recent months by sea are much higher than border exports.

According to the Vietnam Cassava Association, according to information from cassava factories, due to the impact of storms and rains, the 2024-2025 production season in the northern provinces is expected to be about 20 days later than the 2023-2024 season. According to information from export units, the amount of cassava starch inventory at Qingdao port, China fluctuates around 200,000 tons (with CFR purchase price over 500 USD/ton), creating pressure on Chinese traders to buy the next amount of goods to rotate warehouses in the Chinese market.

The Thai Cassava Association announced that the selling price of cassava starch decreased by 10 USD/ton compared to the previous week, at 525 USD/ton FOB Bangkok (announced on 10/09/2024).

Vietnamese mills are offering prices unchanged from last week, in the range of $480 - $505/ton FOB Ho Chi Minh port.

According to information from cassava chip businesses, the world corn price has dropped sharply, causing the domestic corn price delivered to animal feed factories to decrease (to about 6.2 million VND/ton). This has greatly affected the demand for cassava chips and cassava pulp used to mix into animal feed. The inventory of cassava chips from the 2023-2024 crop is still quite large, and it is expected that in the 2024-2025 crop, the amount of fresh cassava used to make cassava chips may decrease sharply.

Source: https://congthuong.vn/8-thang-viet-nam-da-thu-ve-hon-822-trieu-usd-tu-xuat-khau-san-347170.html