According to statistics from the General Department of Customs, in 2024, cassava and cassava products will be exported to 2.62 million tons, worth 1.15 billion USD, down 11.1% in volume and 11.4% in value compared to 2023.

The Import-Export Department, Ministry of Industry and Trade, stated that in 2024, although cassava and cassava products exports will decrease compared to 2023, this will still be one of the agricultural export products with a value of over 1 billion USD.

In terms of cassava alone, in 2024, cassava exports reached 647.84 thousand tons, worth 119.07 million USD, down 43.1% in volume and 48.6% in value compared to 2023. The average export price of cassava in 2024 was 254 USD/ton, down 9.7% compared to 2023. Regarding export prices, in 2024, the average export price of cassava and cassava products decreased slightly compared to 2023. The reason is that livestock and poultry were affected by storms and floods, so China’s demand for animal feed is slow, causing cassava export prices in recent months to be often low. The average export price of cassava and cassava products in 2024 will reach 440.4 USD/ton, down 0.2% compared to 2023.

In 2024, China will remain the largest consumer market for cassava and cassava products in Vietnam, accounting for 92.85% in volume and 91.77% in value of the total export of cassava and cassava products of the country, reaching 2.43 million tons, worth 1.06 billion USD, down 9.8% in volume and down 10.6% in value compared to 2023.

The average export price of cassava and cassava products from Vietnam to China in 2024 will be 435.3 USD/ton, down 0.8% compared to 2023.

According to the Import-Export Department, China’s demand for cassava and cassava products will slow down in 2024. 2024 has affected the export of this item of Vietnam.

In general, in 2024, the export of cassava and cassava products from Vietnam still depends heavily on the Chinese market and has not taken advantage of opportunities to expand the export market to countries and regions that have signed Free Trade Agreements (FTAs) such as: EU, Korea, Japan, USA… In these markets, the amount of cassava and cassava products imported from Vietnam is still very low.

The Ministry of Industry and Trade believes that in 2025, China will still be the most potential destination for cassava and cassava products from Vietnam thanks to its large demand, close geographical location, logistics costs and lower risks than other markets.

According to the Ministry of Agriculture and Rural Development, the country currently has about 140 cassava starch processing factories, with a total design capacity of 13.4 million tons of fresh tubers/year, and a total actual capacity of 9.3 million tons/year.

To support the cassava industry, in 2024, the Ministry of Agriculture and Rural Development approved the Project “Sustainable development of the cassava industry to 2030, vision to 2050”.

The target by 2030 is that the country’s fresh cassava output will reach about 11.5 – 12.5 million tons; of which, the fresh cassava output used for deep processing of some products (starch, ethanol, MSG) accounts for about 85%; the cassava growing area using standard quality varieties will reach 40-50%; the cassava growing area applying sustainable farming processes will reach 50%. By 2030, the export turnover of cassava and cassava products will reach 1.8 – 2.0 billion USD.

However, in this market, Vietnam’s cassava and cassava starch are facing strong competition from cassava and cassava starch from Thailand, Laos and Cambodia.

Therefore, to compete with Thailand in exporting cassava and cassava products to China, the Import-Export Department recommends that Vietnamese cassava enterprises need to improve product quality to maintain and expand market share in the Chinese market. Especially when many Chinese cassava starch factories are actively investing in factories in Laos due to cheaper cassava and labor costs.

Source: VNECONOMY.VN