Exports of cassava and cassava products continue to grow

Cassava and cassava products exports increased for the second consecutive month. Cassava and cassava products reached the billion USD mark after 10 months of export.

Prices of cassava and cassava products for export increase sharply

The Import-Export Department (Ministry of Industry and Trade) cited statistics from the General Department of Customs, saying that in October 2023, Vietnam exported 268.37 thousand tons of cassava and cassava products, worth 136.49 million USD, up 2.1% in volume and 11.1% in value compared to September 2023, up 12.6% in volume and 33% in value compared to October 2022.

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Exports of cassava and cassava products continue to grow

In the first 10 months of 2023, the export of cassava and cassava products reached over 2.39 million tons, worth 1.02 billion USD, down 6.4% in volume and 8.8% in value compared to the same period in 2022.

In October 2023, the export price of cassava and cassava products increased sharply to the highest level since the beginning of 2023. Accordingly, the average export price of cassava and cassava products was at 508.6 USD/ton, up 8.8% compared to September 2023 and up 18.1% compared to October 2022.

In October 2023, China was still the largest export market for cassava and cassava products of Vietnam, accounting for 90.01% in volume and 91.49% in value of the total export of cassava and cassava products of the whole country, reaching 241.55 thousand tons, worth 124.88 million USD, down 4.7% in volume, but up 6.2% in value compared to September 2023; Compared to October 2022, it increased by 16.6% in volume and 40.2% in value.

The average export price of cassava and cassava products to China was 517 USD/ton, up 11.5% compared to September 2023 and up 20.2% compared to October 2022. In the first 10 months of 2023, Vietnam exported 2.18 million tons of cassava and cassava products to China, worth 929.57 million USD, down 6.2% in volume and 9.3% in value compared to the same period in 2022.

In the first 10 months of 2023, although the volume of cassava exports decreased, the export of cassava and cassava products to some markets still grew well in both volume and value compared to the same period in 2022 such as: Taiwan, Malaysia, Japan... However, these markets only account for a small proportion of the total cassava exports of the whole country.

It is expected that the supply of cassava chips will decrease when entering the production season in December.

According to the Vietnam Cassava Association, in early October 2023, the price of fresh cassava in the northern provinces was stable compared to the end of last month, currently the purchase price fluctuated at 2,400 - 2,450 VND/kg. In the central provinces, the price of fresh cassava was purchased at 2,400 - 2,600 VND/kg. The price of fresh cassava purchased in Kon Tum fluctuated at 2,900 - 3,100 VND/kg. The export price of cassava starch and cassava chips was also stable compared to the end of last month.

Currently, Vietnamese factories are offering cassava starch at prices ranging from 535-550 USD/ton FOB Ho Chi Minh City port. The price of cassava starch delivered to Mong Cai and Lang Son fluctuates at 4,100 - 4,350 CNY/ton. Meanwhile, the export price of iron slices to the Chinese market is about 295 USD/ton FOB Quy Nhon; and the export price to the Korean market is about 335 USD/ton FOB Quy Nhon.

According to an announcement from China, the country will apply a border resident import policy from November 1, 2023. Accordingly, goods that are not locally processed such as tapioca flour, dried tea leaves, cashew nuts and other dry goods will not be subject to the direct customs clearance regulation "both imported and exported vehicles" as in the past, but will restore the regulation of 8,000 yuan per person/day/vehicle. Accordingly, the fee for picking up goods at the border gate area on the Chinese side will increase by about 100 yuan/ton for loading and unloading costs, transit vehicles and other taxes and fees.

This year, prolonged heavy rains in the provinces of the Southeast region and Cambodia have resulted in lower quality cassava than in previous years. It is expected that the supply of cassava chips will decrease when the production season begins in December, due to a forecast of a sharp decrease in the supply of fresh cassava roots.

In the 2023/24 crop year, businesses trading in this item may have to increase imports of cassava chips from Laos and Cambodia to Vietnam to meet the needs of domestic animal feed factories, as well as for export.

In Phu Yen, the Department of Agriculture and Rural Development of Phu Yen said that in the 2023/24 crop year, farmers in the province have harvested 2,998/26,256 hectares of cassava, with an estimated yield of 21 tons/ha. Cassava has been a staple crop for many years by farmers in Song Hinh, Dong Xuan, Son Hoa, Tuy An, Tay Hoa districts...

In Thanh Hoa, cassava is one of the three main crops of the province, after rice and corn. Currently, in Thanh Hoa province, there are 5 cassava starch processing factories, with a scale of 600 tons of products/day, accordingly, the raw material demand for production requires 250,000-300,000 tons of fresh cassava tubers.

This can be considered a stable purchasing market, helping cassava growers feel secure in production. Each year, the province has nearly 14,000 hectares of cassava, with a total output of about 200,000 tons as raw materials for cassava starch processing factories in the province.

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