China buys up to 95% of cassava from both Vietnam and Thailand for what?

Published 2022년 6월 22일

Tridge summary

There has been a notable shift in Vietnam's and Thailand's cassava market, with a significant increase in cassava starch exports and a decrease in cassava chips exports, largely due to high demand from China. In the first four months of 2022, Vietnam exported nearly 800,840 tons of cassava starch and 407,180 tons of dried cassava chips, with a notable 15.7% increase in volume and 27.2% increase in value in cassava starch exports mainly to China, and a 19.5% decrease in volume and 9.2% decrease in value in dried cassava chips exports, primarily to China, Korea, and Malaysia. This trend is expected to persist, underlining China's dominant role as a consumer of these products, mainly for animal feed processing. The price stability in the domestic market is largely due to the increased purchasing power from China, despite some challenges in delivery speed.

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

Original content

In recent months, the export of cassava starch has tended to increase again due to high demand from China, while the export of cassava chips has decreased. It is forecasted that in the coming months, cassava starch exports will continue to increase thanks to China's still high demand. China increased purchases of cassava and cassava products mainly for the animal feed processing industry. According to statistics from the General Department of Customs, in the first four months of 2022, Vietnam exported nearly 800,840 tons of tapioca starch, worth US$403.64 million, up 15.7% in volume and 27.2 percent in volume. % in value over the same period in 2021, mainly exported to China, Indonesia, the Philippines, and South Korea. In which, China is still the largest consumer market of Vietnam's tapioca starch, accounting for 94.7% of the country's total export of cassava starch with 758,170 tons, worth $380.5 million, an increase of 15 percent. 5% in volume and 26.8% in value over the same ...

Source: Danviet