Preliminary statistics from the General Department of Customs , in the first 10 months of 2023, Vietnam exported nearly 2.4 million tons of cassava and cassava products, earning nearly 1.03 billion USD. Compared to the same period last year, exports of this product decreased by 6.4% in volume and 8.8% in value.

Cassava and cassava products reached billion USD mark after 10 months of export

By the end of October this year, cassava and cassava products were one of nine commodities (aquaculture (7.44 billion USD), vegetables (4.82 billion USD), rubber (2.37 billion USD), cashew nuts (2.95 billion USD), coffee (3.29 billion USD), rice (3.95 billion USD), wood and forest products (10.91 billion USD), animal feed and raw materials (1.01 billion USD) billion USD)) entered the "billion dollar export club" of the agricultural industry.

Regarding export markets, China is still the largest customer. In the past 10 months, China spent 929.6 million USD to buy nearly 2.2 million tons of cassava and cassava products, accounting for 90.4% of Vietnam's total export turnover of this industry.

Among Vietnamese agricultural products exported to China, cassava and cassava products rank 5th in value, behind vegetables, rubber, wood and wood products, and seafood.

According to the Vietnam Cassava Association, Vietnamese factories are offering cassava starch at prices ranging from 545 - 560 USD/ton, at City port. Ho Chi Minh. The price of cassava starch delivered in Mong Cai and Lang Son is at 4,300 - 4,500 CNY/ton (about 320 USD/ton). The export price of iron slices to the Chinese market is about 285 USD/ton, delivered at Quy Nhon port.

From mid-October 2023, some cassava starch factories in the North have started production again, the supply of cassava starch has increased. However, purchases from Chinese customers tend to slow down to put downward pressure on prices due to the larger supply of new crop products from Vietnam.

However, fresh cassava raw materials are still in short supply and prices have even increased in the Northern region.