As the largest customer of Vietnam’s cassava, China purchased more than 212,000 tons of cassava in August 2023 alone. As a result, Vietnam’s cassava export turnover increased sharply after five consecutive months of decline.

Statistics from the General Department of Customs show that in August, Vietnam exported about 221,000 tons of cassava and cassava products, reaching 103.26 million USD. This was a sharp increase of 52.4% in volume and 43.7% in value compared to July 2023. Compared to August 2022, cassava exports increased by 7% in volume and 6.6% in value. 

China purchased about 212,000 tons of cassava from Vietnam in August 2023.

Notably, this is the first month that the exports of Vietnam’s cassava and cassava products recorded positive growth after five consecutive months of decline. The main reason is that China, the largest customer, purchased nearly 96% of the total export volume of Vietnam in August.

Specifically, in August, China spent 98.04 million USD to buy 212.23 thousand tons of cassava and cassava products from Vietnam. This was up 56.1% in volume and 47.2% in value compared to July 2023. Compared to August 2022, it increased 9.6% in volume and 7.9% in value.

However, the average export price of cassava and cassava products only reached 466.7 USD/ton, which was down 5.7% compared to July 2023 and 0.4% compared to August 2022. 

Accumulated in 8 months of 2023, exports of cassava and cassava products reached 1.86 million tons, earning 768.76 million USD. This result was down 12.4% in volume and 18% in value over the same period in 2022. In particular, cassava exports to the Chinese market reached 1.69 million tons, worth 687.24 million USD, down 13.4% in volume and 19.9% in value over the same period last year. 

In the 8 months of 2023, although the export volume of cassava decreased, the export of cassava and cassava products to some markets still grew well in both volume and value over the same period in 2022.

Specifically, exports to Taiwan (China) increased by 34.8%; to Malaysia increased by 86.4%; to Japan increased by 269.1% over the same period last year. However, these markets account for only a small proportion of Vietnam’s total export volume of cassava and cassava products. 

Exports of cassava and cassava products to Japan increased sharply.

In the coming time, the demand for this item from importers is forecast to be high, as countries increase their food reserves, cereals for consumption, and production of animal feed. 

However, the supply decreased in the context of cassava growing areas in some provinces infected with leaf mosaic disease. This has affected the productivity of new crops in 2023. Therefore, it will be difficult for the export of cassava and cassava products to increase sharply.

From the beginning of September 2023 to now, the price of fresh cassava in Tay Ninh continued to increase slightly. Meanwhile, the price of finished starch is also adjusted to increase following the increase in the price of raw materials to an average of 12,500 VND/kg for exported goods and 12,800 VND/kg for domestic ones. 

North Vietnam’s supply of fresh cassava may not be affected in the last months of 2023, but production will reduce or run out earlier than in previous years. Meanwhile, the supply of cassava starch from northern factories is expected to be larger from the end of October. 

Some shipments of cassava starch delivered at Mong Cai and Lang Son have been purchased by China with the highest price of 4,300-4,350 yuan/ton. 

China’s demand for cassava slices is more vibrant as factories prepare goods for year-end production. However, export prices have not increased sharply due to the sharp depreciation of the currency and low world corn prices. 

China’s demand for cassava starch is higher in the context of new cassava starch production of Vietnam and Thailand to the market lower and later than previously expected./.