China spent nearly 400 million USD to buy over 1 million tons of cassava from Vietnam.
China remains the largest customer for Vietnamese cassava, spending more than 397 million USD in the first four months of the year to import 1 million tons. Meanwhile, Vietnamese cassava exports to Japan increased dramatically by 3,358%.
According to statistics from the General Department of Customs, in April 2023, our country exported 189,82 thousand tons of cassava and cassava products, worth 76.03 million USD, down 19.5% in volume and 27.4% in value compared to April 2022.
The average export price of cassava and cassava products was at 400.6 USD/ton, up 4.6% compared to March 2023, but down 9.9% compared to the same period in 2022.
By the end of April this year, exports of this group of products reached 1.16 million tons, earning 445.81 million USD, down 2.4% in volume and 13.5% in value compared to the same period last year.
In the first four months of this year, although China reduced its imports, it was still a major customer of cassava and cassava products exported from Vietnam. This market spent nearly 397.4 million USD to buy 1.05 million tons of our country's goods.
In contrast to China, cassava and cassava product exports to other markets grew strongly in both volume and value compared to the same period last year.
 |
China bought more than 1 million tons of cassava and cassava products from Vietnam. Photo: IT |
Notably, Japan has emerged as a market with a sharp increase in cassava imports from Vietnam. In the first four months of 2023, cassava exports to Japan reached 2,280 tons, earning 1.16 million USD, a sharp increase of 3,357.6% in volume and 1,742% in value over the same period in 2022.
According to the Import-Export Department (Ministry of Industry and Trade), the supply and price of corn and wheat are currently affected by the conflict between Russia and Ukraine. Meanwhile, developed countries are switching to clean energy from ethanol, of which cassava is one of the important raw materials to create ethanol. Therefore, the demand for cassava in the world market will continue to increase.
According to the Vietnam Cassava Association, in the first 10 days of May 2023, the purchase price of fresh cassava in Tay Ninh fluctuated at 3,400-3,600 VND/kg; in Dak Lak from 3,000-3,050 VND/kg; in Gia Lai from 3,300-3,100 VND/kg.
The low inventory of cassava starch has pushed up the selling price. Meanwhile, the inventory of cassava starch in China is low, customers are willing to buy cassava at a high price even though it is the hot season.
The export price of cassava starch in Lang Son and Mong Cai continues to increase. Vietnamese factories are offering cassava starch at a price of about 535-555 USD/ton, FOB Ho Chi Minh City port, an increase of 10 USD/ton compared to the end of April 2023. The export price of iron slices to the Chinese market is about 305 USD/ton, FOB Quy Nhon; and to the Korean market is about 355 USD/ton.
