China accelerates to buy 90% of a Vietnamese agricultural product at high prices

Published 2022년 4월 25일

Tridge summary

The article reports on the dynamics of Vietnam's cassava market, highlighting significant price increases for cassava chips exported to China due to supply chain issues and strong demand. Despite these challenges, the export of cassava and cassava products in the first quarter of 2022 saw an increase in value compared to the same period in 2021, with a large portion going to China. The article also notes a decrease in Vietnam's market share in supplying tapioca starch to South Korea, facing strong competition from Thailand. The Vietnamese cassava industry enjoys substantial growth in both export and domestic markets, with potential for further expansion as domestic consumption remains relatively low.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to a report of the Import-Export Department (Ministry of Industry and Trade), in the first 20 days of April 2022, the domestic price of tapioca starch and the price of cassava chips exported to China tend to increase. However, due to the complicated situation of the Covid-19 epidemic in some border areas of China adjacent to Vietnam, the clearance speed at some northern border gates is still slow. According to statistics of the General Department of Customs, in March 2022, Vietnam exported 447,010 tons of cassava and cassava products, worth 198.61 million USD, up 79.4% in volume and 94% in value. price compared to February 2022; compared with March 2021, increased by 50% in volume and 76.2% in value. The average export price of cassava and cassava products was at 444.3 USD/ton, up 8.2% compared to February 2022 and 17.5% higher than March 2021. Generally, in the first quarter of 2022, the export of cassava and cassava products reached 956,760 tons, worth $413.05 million, ...

Source: Danviet