The cassava market in Vietnam may be active towards the year-end thanks to high Chinese demand

Published 2020년 12월 14일

Tridge summary

Vietnam and Cambodia's flooding and the resulting scarce cassava supply, coupled with increasing demand, have led to a surge in cassava prices. The price of raw cassava in Vietnam's Central region and Central Highlands has risen due to limited supply, with China being the primary consumer of Vietnamese cassava and cassava products, accounting for 90.8% of the market share in the first 10 months of 2020. The Department of Agro-Processing and Market Development anticipates the cassava market to remain active due to continued demand, especially from China, which has increased its purchase of Vietnamese cassava chips for the animal feed and ethanol industries.

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

Original content

The Department of Agro-Processing and Market Development said scarce supply due to flooding in Vietnam and Cambodia combined with rising demand created momentum for cassava prices to continue to rise. Currently, Vietnam is entering the cassava harvest, but due to a natural disaster causing long-lasting heavy rains, it will affect the productivity and quality of cassava in the 2020-2021 crop, putting pressure on the supply in the near future. In the domestic market, the price of raw cassava in mid-November in the Central region, the Central Highlands continued its uptrend (the price of raw cassava in Tay Ninh increased to about 3,000 VND / kg) due to limited supply. Factories do not have enough raw materials to produce at full capacity. The Department of Agro-Processing and Market Development forecasts that from now to the end of the year, the cassava market will remain active due to high demand from China. The volume of exports of cassava and cassava products in November 2020 is ...

Source: Vietnambiz