In 2024, cassava and cassava product exports to China accounted for 92.85% in volume and 91.77% in value of the total exports of Vietnam. The result was 2.43 million tons, worth 1.06 billion USD, a decrease of 9.8% in volume and 10.6% in value compared to 2023.
According to the General Department of Customs, in 2024, the export of cassava and cassava products was 2.62 million tons, worth 1.15 billion USD, a decrease of 11.1% in volume and 11.4% in value compared to 2023. Although the exports of cassava and cassava products decreased in 2024 compared to 2023, it remains one of the agricultural export items with a value exceeding one billion USD.
Specifically for cassava, in 2024, cassava exports reached 647.84 thousand tons, worth 119.07 million USD, a decrease of 43.1% in volume and 48.6% in value compared to 2023. The average export price of cassava in 2024 was 254 USD/ton, a decrease of 9.7% compared to 2023.
This year, China will be the most promising destination for cassava and cassava products from Vietnam due to high demand and short distance.
Regarding export prices, in 2024, the average export price of cassava and cassava products decreased slightly compared to 2023. The average export price of cassava and cassava products in 2024 was 440.4 USD/ton, a decrease of 0.2% compared to 2023.
The average export price of cassava and cassava products from Vietnam to China in 2024 was 435.3 USD/ton, a decrease of 0.8% compared to 2023.
According to the Department of Import-Export, the slowdown in demand for cassava and cassava products in China in 2024 has affected the export of this item from Vietnam.
Overall, in 2024, the export of cassava and cassava products from Vietnam heavily depended on China and has not yet expanded export markets to FTA countries, such as the EU, South Korea, Japan, and the USA. In these markets, the volume of cassava and cassava products imported from Vietnam is very low.
The Ministry of Industry and Trade predicts that in 2025, China will still be the most potential destination for cassava and cassava products from Vietnam due to high demand, short distance, lower logistics costs, and lower risks compared to other markets.
According to the Ministry of Agriculture and Rural Development, Vietnam currently has over 140 cassava starch processing plants, with a total designed capacity of 13.4 million tons and an actual total capacity of 9.3 million tons per year.
To support the cassava industry, in 2024, the Ministry of Agriculture and Rural Development approved the project “Sustainable Development of the Cassava Industry by 2030, with a vision to 2050.”
To compete with Thailand in exporting cassava and cassava products to China, the Import-Export Department recommends that Vietnamese enterprises enhance product quality to maintain and expand their market share in this market. Especially since many Chinese cassava starch plants are actively investing in production facilities in Laos due to the lower prices of cassava and labor.