| Cassava and cassava products exports in 2022 to reach 1.4 billion USD Cassava and cassava products exports increased for the second consecutive month |
According to preliminary statistics from the General Department of Customs, cassava exports witnessed record growth in January 2024. Specifically, in January, cassava exports reached 76,118 tons with a value of more than 19.9 million USD, up 369.6% in volume and 340.8% compared to December 2023. At the same time, there was a sharp increase of 30.9% in volume and 36.4% compared to the same period in 2023. Thus, cassava is the item with the strongest growth in the first month of 2024.
The average export price reached 262 USD/ton, down 15 USD/ton compared to the previous month. In total, the group of cassava and cassava products earned more than 195 million USD, up 38.1% compared to the previous month.
China continues to maintain its position as Vietnam's largest cassava importer. In January 2024, Vietnam exported 401,945 tons of cassava to China, earning more than 183 million USD, up 48% in volume and 38% in value compared to the previous month. China's market share also increased from 91% in 2023 to 94% in the first month of 2024.
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| In January 2024, cassava exports witnessed record growth. |
The average export price reached 457 USD/ton, down 6% compared to the previous month. In addition to the Chinese market, Vietnam also exports this product to other countries such as: Korea, Malaysia, Japan, Pakistan, etc.
Shortage of raw cassava is one of the important reasons leading to the increase in fresh cassava prices in January. Since the beginning of January, the price of fresh cassava in the Central region to the North has been continuously increasing. The significant decrease in cassava production is also considered to be the reason leading to the increase in cassava prices.
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 estimated output will reach 10.43 million tons of fresh tubers, a decrease of about 196.3 thousand tons compared to 2022.
Information from the General Administration of Customs of China shows that in the first 11 months of 2023, Vietnam was the second largest supplier of cassava chips to China with 700 thousand tons, worth 192 million USD, up 30% in volume and 21% in value over the same period in 2022. Vietnam's cassava chip market share accounted for 12.71% in volume and 12.63% in value of China's total cassava chip imports.
Cassava and cassava product export turnover increased from 0.958 billion USD in 2018 to nearly 1.5 billion USD in 2022. Vietnam currently ranks second in the world in cassava, after Thailand.
The Vietnam Cassava Association sets a target of cassava export reaching 2 billion USD/year by 2028 and increasing to 2.5 billion USD/year by 2050.
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