Vietnam is the second largest supplier of cassava starch to China with a value of 392 million USD (about 9,600 billion VND) in 7 months, up 50% over the same period last year.
According to Chinese customs data, in the first 7 months of the year, the country spent 1.08 billion USD importing cassava starch from Southeast Asia, of which Vietnam accounted for about 392 million USD (nearly 800,000 tons, up 40% in volume). Vietnam's cassava starch market share accounts for more than 37% of China's total imports, ranking second after Thailand (956,000 tons, worth 525.5 million USD).
In addition to Vietnam and Thailand, China also increased purchases from Laos, Cambodia and Brazil, while reducing imports from Indonesia.
Exporters say Vietnamese cassava starch is very popular in China, especially for making confectionery during the Mid-Autumn Festival and other year-end festivals. However, competition is still fierce with low-cost rivals, and corn starch is also partially replacing cassava starch.
In the first 8 months, Vietnam exported 1.79 million tons of cassava and cassava products, earning more than 822 million USD, down 3.8% in volume but up 7% in value thanks to the increase in average export price. Of which, China alone bought 92% of the total volume of cassava and cassava products from Vietnam, equivalent to 1.65 million tons with a value of 751 million USD, down 2.2% in volume, up 9.3% in value.
However, the Vietnam Cassava Association warned that the industry needs to improve product quality, especially when China assessed that Thai cassava starch is more stable in both quantity and quality.
The Vietnam Cassava Association aims to export 2 billion USD a year by 2028 and 2.5 billion USD by 2050. Currently, the country has about 530,000 hectares of cassava, with an output of more than 10 million tons a year.
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