China suddenly increased purchase of a Vietnamese agricultural product to mix in animal feed, what is it?

Published 2021년 12월 16일

Tridge summary

Thousands of containers of agricultural products, including cassava and cassava products, are experiencing congestion at border gates due to China's tight control to prevent Covid-19, affecting delivery progress. Despite this, the export of cassava and cassava products is expected to be active again by the end of 2021, with high export prices. In the first 10 months of 2021, Vietnam exported 1.59 million tons of tapioca starch, valued at $747.33 million, a decrease in volume but increase in value over the same period in 2020. The export of dried cassava chips also saw a significant increase due to a sharp increase in world corn prices, with China increasing imports of cassava chips to make animal feed. However, Vietnam's market share of cassava products in China has decreased compared to 2020 while Thailand's market share has increased, indicating that Vietnam's cassava products are facing strong competition in the Chinese market.

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

Original content

The situation of congestion of thousands of containers of agricultural products at the border gates for export to China is affecting the delivery progress of cassava and cassava products. According to the Import-Export Department (Ministry of Industry and Trade), because the Chinese side continues to maintain very tight control over the delivery of goods through the border gate to prevent the Covid-19 epidemic, the delivery progress is very slow. The asking price of Vietnam's dried cassava chips to China's ports is around $270-275/ton, FOB Quy Nhon. Vietnamese factories are offering cassava starch for sale at a price of about 500 505 USD/ton, FOB HCMC port. Ho Chi Minh. In the domestic market, the price of fresh cassava roots is high. Specifically, in the Central Highlands region, most factories still keep the purchase price of fresh cassava tubers at a high level due to the impact of floods, making the supply of cassava brought to the factory low. Meanwhile, domestic demand for ...

Source: Danviet