Cassava exports enjoy surge in Q1

Vietnam's export of cassava and cassava products stood at an estimated 1.07 million tonnes worth US$396 million during the first quarter of the year, a year-on-year increase of 40.3% in volume and 53.3% in value, according to figures released by the Ministry of Industry and Trade (MoIT).

This comes following the market share of Vietnamese cassava chips as part of China's total imports increased sharply throughout the reviewed period.

March alone witnessed the country export roughly 385,000 tonnes of cassava and cassava products worth US$142 million, posting a rise of 17.1% in volume and 23.9% in value compared to the same period from last year.

The average export price of cassava in March recorded an increase of 1% compared to February, whilst rising by 5.8% compared to March, 2020, to US$369 per tonne.

During the initial three months of the year, the nation shipped 1.07 million tonnes of cassava and cassava products abroad worth US$396 million.

According to figures compiled by China Customs, during the initial two months of the year, China's import of cassava chips surged by 151.9% on-year to US$222.65 million, with Thailand, Vietnam, Cambodia, Laos, and Tanzania being the five largest cassava chips suppliers to the East Asian giant.

The nation ranks second among the largest suppliers of cassava chips to the Chinese market, with export turnover reaching US$41.72 million, up 209.9% against the same period from last year, with the country’s share of the cassava chips market accounting for 18.74% of China’s total imports.

Throughout the reviewed period the northern neighbour mainly imported cassava starch from Thailand, Vietnam, Indonesia, Laos, and Cambodia, with Vietnam representing the second largest supplier to China with 158,220 tonnes worth US$70.57 million, up 38% in volume and 53.4% in value over the same period from 2020.