China spent nearly 300 million USD to buy half a million tons of an agricultural product widely grown in Vietnam

Published 2024년 3월 26일

Tridge summary

In February 2024, Vietnam witnessed a significant downturn in its cassava and cassava products exports, with a 48.7% drop in volume and a 50.8% decrease in value from January 2024, and a 53.6% decrease in volume and a 45.2% decrease in value year-over-year. This decline was largely due to the Tet holiday's impact on trade activities in both Vietnam and China, its largest export market. Despite the overall slump, the export price of these products rose by 18.1% compared to the same period in the previous year. While exports to China fell, Vietnam saw a notable increase in its cassava exports to Malaysia and also boosted its cassava starch exports to Taiwan, securing its position as the second-largest supplier to the island.

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

Original content

According to statistics from the General Department of Vietnam Customs, in February 2024, Vietnam exported 217,030 tons of cassava and cassava products, worth 96.27 million USD, down 48.7% in volume and 50.8% in value compared to January 2024; Compared to February 2023, it decreased by 53.6% in volume and 45.2% in value. The reason for the decrease is that February 2024 has the traditional Tet holiday of both Vietnam and China, so Vietnam's export of cassava and cassava products is affected. In February 2024, the average export price of cassava and cassava products was at 443.6 USD/ton, down 4.1% compared to January 2024, but up 18.1% compared to February 2023. . Accumulated in the first 2 months of 2024, Vietnam's export of cassava and cassava products reached 639,060 tons, worth 291.51 million USD, down 9.1% in volume, but up 8.9% in value compared to with the same period in 2023. For cassava products alone, in February 2024, cassava exports reached 64,800 tons, worth 16.52 ...

Source: Danviet