In 2022, cassava exports from Vietnam reached 3.25 million tons. The total export value was worth at $1.4 billion, surpassing the record of $1.32 billion in 2015. In which, China still remained the largest market.
According to the General Department of Customs, Vietnam exported 390,000 tons of cassava products, worth $153 million in December 2022. For the entire year of 2022, cassava exports from Vietnam hit a new record, reaching 3.25 million tons. Total annual export turnover valued at $1.4 billion. This marked a 13.3% increase in volume and a 19.7% increase in value compared to 2021.
Cassava exports from Vietnam
Previously, the export value of Vietnamese cassava products peaked in 2015 at $1.32 billion. However, it declined in subsequent years, sometimes dropping below $1 billion. As a positive signal, it has consistently exceeded $1 billion in recent years.
Vietnam’s cassava exports mainly include cassava starch and cassava chips. Starch is primarily shipped to China, Taiwan, the Philippines, South Korea, and Indonesia.
China continues to dominate as the largest cassava starch importer, accounting for 94.8% of total Vietnamese cassava starch exports. In 2022, China imported two million tons of tapioca starch from Vietnam, which was worth at $987 million. It reflected a 16.8% increase in volume and a 19.4% rise in value compared to 2021.
Loading cassava starch from Vietnam
From January to November 2022, Vietnam exported 693,630 tons of cassava chips, worth $203.17 million. While this represented an 11.1% drop in volume, the value grew by 0.5% year-on-year. China, South Korea, Malaysia, and Papua New Guinea are main import markets. In which, China accounted for 78.25% of the total, valued at $152.02 million.
Notably, cassava exports from Vietnam to South Korea increased significantly during the same period. Vietnam exported 138,000 tons of cassava chips worth $49 million to South Korea. It marked a 56.9% rise in volume and a 66.7% increase in value compared to 2021.
Vietnam also experienced robust growth in cassava starch exports to South Korea in 2022. During the first 11 months, Vietnam supplied 3,480 tons of starch worth $2 million, a 39.6% rise in volume and a 53.6% increase in value year-on-year.
Cassava starch and cassava chips
In total, Vietnam exported 118,150 tons of cassava to South Korea, valued at $49.84 million, reflecting a 42.6% increase in volume and a 62.9% rise in value. Vietnamese cassava suppliers accounted for 42.8% of South Korea’s total imports in this category.
South Korea is becoming a highly potential market for Vietnam’s cassava sector, driven by increasing demand. In the first 11 months of 2022, South Korea imported 276,100 tons of cassava worth $92.84 million, a 49.1% rise in volume and a 73.9% surge in value year-on-year.
Despite impressive growth, Vietnam’s cassava starch exports to South Korea remain modest compared to Thailand, which accounted for 89% of South Korea’s imported cassava starch during the same period.
Vietnamese source: https://mekongasean.vn/han-quoc-dang-noi-len-nhu-mot-thi-truong-tiem-nang-cho-xuat-khau-san-21283.html