China buys 95% of cassava and tapioca starch from Vietnam to produce gasoline and mix it into animal feed

Published 2023년 2월 27일

Tridge summary

The price of fresh cassava and tapioca starch in Vietnam has increased due to high raw material costs and a decrease in raw material availability. The export price of cassava chips has not kept pace with the domestic market price increase, which could pose a risk for trading units. Vietnamese factories are offering cassava starch at high prices due to high raw material costs. China is the world's largest import market for cassava and tapioca starch, importing a significant amount in 2022 due to high gasoline prices and disruptions in global grain supplies, and it is predicted that demand for these products from China will continue to increase in 2023.

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

Original content

According to a report by the Import-Export Department (Ministry of Industry and Trade), due to the purchasing power of the Chinese market, the price of fresh cassava in the North, Central and Central Highlands continued to increase slightly. Tapioca starch prices in the three regions increased in the context of high raw material prices. Meanwhile, the Vietnam Cassava Association currently reports that the source of raw materials has decreased due to the lower quality of fresh cassava roots compared to the same period of the 2021/22 cassava crop. Factories focus on running machines after Tet holiday, pushing up raw material purchasing prices. Currently, the price of fresh cassava purchased in Tay Ninh is at 3,400-3,500 VND/kg, an increase of 250-300 VND/kg compared to 10 days ago. In Dak Lak, the price of cassava is at 2,800-2,850 VND/kg, up 100 VND/kg. In Gia Lai, the price of cassava is at 2,950-3,100 VND/kg, up 150-250 VND/kg. In the North, the price of fresh cassava was at ...

Source: Danviet