China bought tubers that once rescued hunger in Vietnam and now earn nearly 700 million USD

Published 2024년 7월 24일

Tridge summary

Cassava, once a staple for hunger relief in Vietnam, has become a major commodity crop, with China as the largest importer. In the first half of this year, Vietnam exported nearly 1.5 million tons of cassava, generating approximately 684 million USD, marking a 7.6% increase in value from the same period in 2023. Despite a slight drop in volume, the average export price increased by 15%. China accounted for 90.3% of Vietnam's cassava export revenue. The Ministry of Agriculture and Rural Development aims to diversify markets and boost export turnover to 1.8-2 billion USD by 2030.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Once a "hunger relief" tuber, cassava later developed into a commodity crop. This type of tuber was purchased by China, helping our country earn nearly 700 million USD in the first months of this year. Cassava was formerly one of the "hunger-rescuing" tubers in our country. Later, cassava became a commodity crop that could be used from tubers, stems to leaves for processing and export. The largest customer, almost "buying" all of our country's cassava and cassava products, is China. Thanks to that, from a cheap product, cassava has become Vietnam's first "billion dollar" tuber. The latest statistics from the General Department of Customs show that, as of mid-July this year, our country has exported nearly 1.5 million tons of cassava, down slightly compared to 1.59 million tons in the same period last year. However, export value reached nearly 684 million USD, an increase of 7.6% over the same period in 2023. In particular, last June, our country exported 141,228 tons of cassava ...

Would you like more in-depth insights?

Gain access to detailed market analysis tailored to your business needs.
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.