Cassava and cassava products reach billion USD export target after 10 months of export

Export prices of cassava and cassava products to the Chinese market have decreased again. China is still the largest export market for cassava and cassava products from Vietnam.

Preliminary statistics from the General Department of Customs show that in the first 10 months of 2023, Vietnam exported nearly 2.4 million tons of cassava and cassava products, earning nearly 1.03 billion USD. Compared to the same period last year, exports of this item decreased by 6.4% in volume and 8.8% in value.

By the end of October this year, cassava and cassava products were one of nine items (aquatic products (7.44 billion USD), vegetables and fruits (4.82 billion USD), rubber (2.37 billion USD), cashew nuts (2.95 billion USD), coffee (3.29 billion USD), rice (3.95 billion USD), wood and forestry products (10.91 billion USD), animal feed and raw materials (1.01 billion USD)) that entered the "billion-dollar export club" of the agricultural sector.

Regarding export markets, China remains the largest customer. In the past 10 months, China spent 929.6 million USD to buy nearly 2.2 million tons of cassava and cassava products, accounting for 90.4% of Vietnam's total export turnover of this industry.

Among Vietnamese agricultural products exported to China, cassava and cassava products rank 5th in value, after vegetables, rubber, wood and wood products, and seafood.

According to the Vietnam Cassava Association, Vietnamese factories are offering cassava starch at prices ranging from 545 to 560 USD/ton, delivered at Ho Chi Minh City port. The price of cassava starch delivered at Mong Cai and Lang Son is at 4,300 to 4,500 CNY/ton (about 320 USD/ton). The export price of iron slices to the Chinese market is about 285 USD/ton, delivered at Quy Nhon port.

Since mid-October 2023, some cassava starch factories in the North have resumed production, increasing the supply of cassava starch. However, purchases from Chinese customers tend to slow down, putting downward pressure on prices due to the increased supply of new crop products from Vietnam.

However, fresh cassava raw materials are still in short supply and prices have even increased in the Northern region.

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