According to the General Department of Customs, in January 2024, cassava exports achieved record growth. This is also the item with the strongest growth level.
The statistics of the General Department of Customs show that in January 2024, cassava exports achieved a record growth. Specifically, in January, cassava exports reached 76,118 tons with a value of more than 19.9 million USD, up 369.6% in volume and 340.8% compared to December 2023. At the same time, it increased sharply by 30.9% in volume and 36.4% over the same period in 2023. Thus, cassava is the item with the strongest growth in the first month of 2024.
The average export price was 262 USD/ton, down 15 USD/ton compared to the last month. Overall, the group of cassava and cassava products earned more than 195 million USD, an increase of 38.1% compared to the last month.
China maintains its position as Vietnam’s largest cassava importer. In January 2024, Vietnam exported 401,945 tons of cassava to China and earned more than 183 million USD, up 48% in volume and 38% in value compared to the last month. China’s market share has increased from 91% in 2023 to 94% in the first month of 2024.
Cassava exports achieved record growth in January 2024.
The average export price was 457 USD/ton, down 6% compared to December 2023. In addition to China, Vietnam also exports this product to other countries such as Korea, Malaysia, Japan, Pakistan, etc.
The shortage of raw cassava is one of the important reasons causing the increase in the price of fresh cassava in January. Since the beginning of the year, the price of fresh cassava in the central and northern regions has continuously tended to increase. A significant decrease in cassava production is believed to be a reason for the increase in cassava prices.
According to the General Statistics Office, in 2023, the cassava area across the country was about 511.5 thousand ha, down 18.8 thousand ha compared to 2022. The output was estimated at 10.43 million tons, down about 196.3 thousand tons compared to 2022.
Information from the General Department of Customs of China shows that in 11 months of 2023, Vietnam was the second-largest supplier of cassava to China with 700,000 tons, worth 192 million USD, up 30% in volume and 21% in value over the same period in 2022. Vietnam’s cassava market share accounts for 12.71% in volume and 12.63% in value of China’s total cassava imports.
The export turnover of cassava and cassava products increased from 0.958 billion USD in 2018 to nearly 1.5 billion USD in 2022. Vietnam now ranks second in the world, after Thailand.
The Vietnam Cassava Association sets a goal for cassava exports by 2028 to reach two billion USD/year by 2028 and increase to 2.5 billion USD/year by 2050./.
