Malaysia bought thousands of tons of Vietnamese cassava, exports increased by 3 digits

Published 2024년 4월 1일

Tridge summary

In February 2024, Vietnam experienced a significant decline in its cassava and cassava product exports, with a 53.6% reduction in volume and a 45.2% decrease in value compared to the same month in 2023, largely due to the Tet holiday's impact on export activities. Despite this, the overall performance for the first two months of 2024 showed a modest 9.1% drop in volume but an 8.9% increase in value year-over-year. China continues to be the primary market for these exports, although there was a notable decrease in February 2024, while exports to Malaysia significantly increased. The domestic market saw slight price fluctuations for fresh cassava and cassava starch, amidst challenges such as low buying prices for cassava flour and high raw material costs, resulting in large inventories for businesses. Additionally, the area dedicated to cassava cultivation in Vietnam saw a reduction in 2023, but there was a slight improvement in average yield and output.

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

Original content

Source: markettimes.vn Statistics from the General Department of Vietnam Customs show that in February 2024, Vietnam exported 217.03 thousand tons of cassava and cassava products, worth 96.27 million USD, compared to February 2024. 2023 will decrease by 53.6% in volume and 45.2% in value. Cumulatively in the first 2 months of 2024, Vietnam's export of cassava and cassava products reached 639.06 thousand tons, worth 291.51 million USD, down 9.1% in volume, but up 8.9% in value. value compared to the same period in 2023. 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. . In February 2024, China is still Vietnam's largest export market for cassava and cassava products, accounting for 91.6% ...

Source: AgroInfo.vn