The European Union is the next destination of Vietnamese cassava

In 2023, the Vietnamese cassava area reached about 511.5 thousand hectares, a decrease of 18.8 thousand hectares compared to 2022. The output was at 10.43 million tons of fresh tubers, a decrease of about 196.3 thousand tons compared to 2022. Together with Thailand, Vietnam is currently dominating the global export supply with a turnover of more than $1.3 billion in 2023.

Cassava is a billion-dollar tree that brings in billions of dollars in export turnover each year. Notably, cassava tubers bring in the largest export turnover. Other parts of the cassava trees also bring high economic value and many uses in industrial processing, animal feed and food. Cassava leaves are used as animal feed for fish farming, silkworm farming.

According to preliminary statistics, Vietnamese cassava exports in June earned more than $68 million, an increase of 31.7%. The export output was 141,228 tons, a sharp increase of 19.2% in volume compared to May 2024.

In the first half of 2024, the export output of Vietnamese cassava earned more than $630 million. It was equivalent to more than 1.3 million tons, although down 7.7% in volume but up 6.2% in value compared to the same period in 2023.

The bright spot of cassava exports is that the export price witnessed a sharp increase. The average export price reached $454/ton, up 15% compared to the same period in 2023.

China continues to hold the position of largest import market of Vietnam’s cassava products. In the first six months, China imported more than 1.26 million tons of cassava, down 6% in value. However, the export turnover went up 9% compared to the same period in 2023, worth $569 million. The average export price reached $451 per ton, up 16% over the same period in 2023.

South Korea is the second largest cassava import market of Vietnamese cassava. The export volume reached 35,849 tons, worth nearly $10.1 million, down 54% in volume and down 62% in turnover. The export price decreased by 18% compared to the same period last year, reaching $306 per ton.

Taiwan ranked third with 27,697 tons, equivalent to more than $15 million, up 4% in volume and 15% in value. Export prices also increased by 11%, reaching $553 per ton. In addition to the three main markets above, Vietnam also exports to Malaysia, Myanmar, and Japan.

A notable change in cassava starch exports to China is that seaborne exports are much higher than cross-border exports. According to Agromonitor, from June 1 to 28, seaborne cassava starch exports reached nearly 84 thousand tons. It is 5.5 times higher than the amount of starch exported through cross-border trade.

Vietnam’s cassava suppliers are expecting cassava exports to pick up again from this July. Regarding cassava chips, Chinese factories will likely buy again from around July 2024. Currently, the inventory of cassava chips in China is gradually depleting due to the sharp decrease in imports in recent times.

By 2050, Vietnam’s cassava industry will continue to develop sustainably, with 80% of the cassava growing area applying sustainable farming processes. The government will orientate factories to focus on deep processing cassava products. Also, the export turnover of Vietnam’s cassava products will reach about $2.5 billion.

For cassava export, solutions are needed to maintain existing cassava consumption markets. At the same time, promote trade promotion activities, expand markets. Moreover, remove trade barriers to create favorable conditions for Vietnamese cassava products to be widely consumed in the world market.

Vietnamese sources: https://thuonghieucongluan.com.vn/eu-la-dich-ngam-tiep-theo-cua-cay-san-viet-nam-a229102.html