HANOI: China continued to be Vietnam’s largest export market for cassava and cassava products in 2024, according to data from the General Department of Customs.
In 2024, Vietnam exported 2.62 million tonnes of cassava and cassava products, valued at US$1.15 billion, marking an 11.1 per cent decline in volume and an 11.4 per cent decrease in value compared to 2023.
China accounted for 92.85 per cent of the total export volume and 91.77 per cent of the total export value, amounting to 2.43 million tonnes worth $1.06 billion.
This represents a 9.8 per cent drop in volume and a 10.6 per cent reduction in value year-on-year. The average export price to China was $435.3 per tonne, down 0.8 per cent from 2023.
Despite the declines, cassava and cassava products remain among Vietnam's agricultural exports earning over $1 billion annually.
In terms of cassava alone, exports in 2024 reached 647,840 tonnes, valued at $119.07 million, reflecting a sharp decrease of 43.1 per cent in volume and 48.6 per cent in value compared to 2023. The average export price of cassava was $254 per tonne, down 9.7 per cent.
The average export price of cassava and cassava products in 2024 slightly decreased to $440.4 per tonne, down 0.2 per cent from 2023. The drop was attributed to reduced demand for animal feed in China, due to flooding and natural disasters affecting livestock farming.
Vietnam's cassava exports still rely heavily on the Chinese market, with limited penetration into other markets such as the EU, South Korea, Japan and the US, despite free trade agreements (FTAs) with these regions.
The Ministry of Industry and Trade expects China to remain Vietnam's most lucrative market for cassava in 2025 due to high demand, geographic proximity and lower logistics costs and 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 designed capacity of 13.4 million tonnes of fresh cassava annually and an actual processing capacity of 9.3 million tonnes. — Vietnam News/ANN
