According to information from the Import-Export Department (Ministry of Industry and Trade), cassava and cassava product exports increased again in March 2024. Statistics from the General Department of Customs show that in March 2024, Vietnam exported 314,860 tons of cassava and cassava products, worth 142.09 million USD, up 45.1% in volume and 47.6% in value compared to February 2024.
In the first 3 months of 2024, the export of cassava and cassava products reached 944,930 tons, worth 430.44 million USD, down 3.3% in volume but up 15.6% in value over the same period in 2023.
Regarding cassava alone, in March 2024, cassava exports reached 88,060 tons, worth 23.02 million USD, up 35.9% in volume and 39.4% in value compared to February 2024.
The average export price was 261.5 USD/ton, up 2.6% compared to February 2024, but down 10.9% compared to March 2023. In the first 3 months of 2024, cassava exports reached 220,440 tons, worth 56.59 million USD, down 41.8% in volume and 45.7% in value compared to the same period in 2023.
Regarding export prices, in the first 3 months of 2024, the average export price of cassava and cassava products reached 455.5 USD/ton, an increase of 19.5% over the same period in 2023.
Vietnam has surpassed Thailand to become the largest supplier of cassava starch to China. In the photo: Thua Thien Hue farmers harvest cassava. Photo: Thua Thien Hue Newspaper.
Meanwhile, the export price of cassava starch offered by Vietnamese factories is at 535-555 USD/ton, FOB Ho Chi Minh City port. The price of cassava starch delivered to Mong Cai and Lang Son fluctuates at 4,000-4,180 CNY/ton.
The export price of iron slices to the Chinese market is at 275 USD/ton, FOB Quy Nhon; the export price to the Korean market is about 315 USD/ton, FOB Quy Nhon.
According to the Import-Export Department, in March 2024, China was still the largest export market for cassava and cassava products of Vietnam, accounting for 94.24% of the total cassava export volume of the country, reaching 299,610 tons, worth 133.56 million USD, up 50.7% in volume and 55.1% in value compared to February 2024; compared to March 2023, up 33.2% in volume and 59.6% in value.
In the first 3 months of 2024, Vietnam exported 890,550 tons of cassava and cassava products to China, worth 400.12 million USD, up 0.7% in volume and 20.7% in value over the same period in 2023.
It can be seen that China is currently the world's largest importer of cassava and cassava starch. According to statistics from the Chinese Customs Administration, in the first two months of 2024, China imported 371,930 tons of cassava chips, worth 99.43 million USD, down 69.1% in volume and 69.2% in value compared to the same period in 2023. Thailand, Vietnam, Laos and Cambodia are the four markets supplying cassava chips to China.
Notably, China's imports of cassava chips from Thailand and Vietnam decreased sharply, while imports from Laos and Cambodia increased.
In the first two months of 2024, Vietnam was the second largest supplier of cassava chips to China, with 101,340 tons, worth 26.63 million USD, down 39.3% in volume and 39.8% in value compared to the same period in 2023. Vietnam's cassava chip market share accounted for 27.25% of China's total cassava chip imports, higher than the 13.87% level in the first two months of 2023.
Regarding cassava starch, in the first two months of 2024, China imported 584,540 tons of cassava starch, worth 309.26 million USD, down 11.5% in volume, but up 3.2% in value over the same period in 2023, mainly imported from Thailand, Vietnam, Laos, Cambodia and Indonesia.
In particular, Vietnam surpassed Thailand to become the largest market supplying cassava starch to China in the first two months of 2024, with 267,930 tons, worth 137.94 million USD, down 6.1% in volume, but up 10.6% in value over the same period in 2023. Vietnam's cassava starch market share accounted for 45.84% of China's total imported cassava starch, higher than the 43.19% level in the first two months of 2023.
Although demand from the Chinese market is still high, according to the Vietnam Cassava Association, many factories have stopped production due to irregular raw material supply. It is forecasted that the summer of 2024 will come earlier than 2023, and the demand for cassava products for the food industry directly processed from cassava is showing signs of decreasing as the weather is hot from the beginning of April 2024.
Exporting enterprises still organize to purchase cassava chips for storage in small quantities due to forecasts that in 2024, the output of consumed cassava chips will decrease (estimated to decrease by more than 10% compared to 2023). Therefore, some enterprises trading in this item are oriented to exploit other agricultural products to ensure business targets for the enterprise.
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