A report from the Import-Export Department (Ministry of Industry and Trade) shows that in May 2024, the amount of cassava and cassava products exported from Vietnam to China reached the lowest level in the past 3 years.
According to statistics from the General Department of Vietnam Customs, in May 2024, cassava and cassava products exported to China reached 83,030 tons, worth 38.55 million USD, down 49.9% in volume and 45.8% in value compared to April 2024; Compared to May 2023, it decreased by 51.4% in volume and 45.2% in value.
In the first 5 months of 2024, China is still the largest export market for cassava and cassava products of Vietnam, accounting for 91.37% in volume and 90.56% in export value of cassava and cassava products of the whole country, with 1.13 million tons, worth 509.03 million USD, down 7% in volume, but up 8.9% in value compared to the same period in 2023.
Regarding export prices, in May 2024, the average export price of cassava and cassava products to China was at 464.3 USD/ton, up 8% compared to April 2024 and up 12.8% compared to May 2023.
In the first 5 months of 2024, the average export price of cassava and cassava products to China was 447.4 USD/ton, an increase of 17.1% over the same period in 2023.
The Chinese side emphasized and suggested that Vietnamese cassava factories should pay attention to the issue of stable quality and outstanding products. In the photo: Farmers in Ba Ria - Vung Tau harvest cassava. Photo: Ba Ria - Vung Tau Newspaper.
In the first 5 months of 2024, the main types of cassava and cassava products exported from Vietnam to China were cassava starch and dried cassava chips. Of which, cassava starch exports to China grew well; while cassava chip exports tended to decrease compared to the same period in 2023.
Notably, recently, at the "Spring 2024 Starch Market and Technical Forum" conference held in Hangzhou City, China, the Vietnam Cassava Association said that China's demand for cassava starch is weak because cornstarch is cheaper than cassava, so customers buy more cornstarch; it is currently the hot season, so the demand for cassava starch has also decreased, so the price has decreased.
Meanwhile, in terms of quality, China assessed that Thai tapioca starch is stable in both quantity and quality. The stability in the quality of Thai tapioca starch products is more consistent than that of Vietnamese tapioca starch. In addition, customers also mentioned the outstanding features of the products, in Thailand there are many products with outstanding quality.
The Chinese side emphasized and suggested that Vietnamese factories should pay attention to the issue of stable quality and outstanding products.
It is forecasted that Chinese factories will likely resume purchasing from around July 2024, as cassava chip inventories in China are running low.
According to statistics, the volume of cassava chips imported into China from the beginning of 2024 to now has decreased significantly compared to the average of the past 3 years. The reason is believed to be the decrease in demand for cassava chips from Chinese factories, in addition, low corn prices have caused factories to prioritize increasing the proportion of corn instead of cassava chips.
In the domestic market, in the 10 days of mid-June 2024, the price of fresh cassava in provinces and cities did not fluctuate much compared to the previous 10 days. Currently, the price of fresh cassava in the Northern provinces fluctuates at 2,750-2,850 VND/kg.
In the Central provinces, fresh cassava is purchased at 2,950-3,100 VND/kg. The price of fresh cassava purchased in Kon Tum fluctuates at 2,700-3,100 VND/kg. The export price of iron slices is stable compared to 10 days ago.
Currently, the export price of iron slices to the Chinese market is at 250 USD/ton, FOB Quy Nhon; The export price to the Korean market is about 300 USD/ton, FOB Quy Nhon.
Export prices of cassava starch were also stable compared to the previous 10 days. Exported cassava starch was offered by Vietnamese factories at 505-520 USD/ton, FOB Ho Chi Minh City port. The price of cassava starch delivered to Mong Cai and Lang Son fluctuated at 3,800-3,980 CNY/ton. The amount of cassava starch exported through Lang Son border gates remained low.
Source: https://danviet.vn/trung-quoc-danh-gia-mot-loai-tinh-bot-cua-viet-nam-dang-thua-san-pham-cua-thai-lan-o-hai-yeu-to-20240702104200798.htm
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