China is the largest market for Vietnam's cassava products

In the first two months of 2023, Vietnam witnessed a significant growth in its cassava and cassava product exports, with a total of 660 thousand tons exported earning over $248 million, marking a 37.1% increase in volume and a 23.4% increase in value compared to the same period in 2022. China was the primary market for these exports, accounting for 93.8% of the total, benefiting from China's lifted quarantine measures post-COVID-19. The exports mainly consisted of tapioca starch and dried cassava chips. Due to global inflation and the impact of the Ukraine conflict on corn and wheat supplies, the demand for cassava is expected to surge worldwide. China's demand for cassava and tapioca starch is anticipated to persist, providing a valuable opportunity for Vietnamese businesses to boost their exports to this market. Additionally, the Vietnam Cassava Association reported high prices for fresh cassava in the Central and Central Highlands due to scarce supply, alongside plans by factories to increase operational capacity.