Vietnam: Cassava exports soared in the first month of the year, promising to be high in 2021

Published Feb 16, 2021

Tridge summary

Vietnam's cassava and cassava product exports in 2020 saw a 9% increase in volume and a 2.4% increase in value, totaling 2.8 million tons and 989 million USD respectively. The Chinese market absorbed 96% of these exports, with a significant surge in cassava chip imports due to high world corn prices. In January 2021, exports experienced a 23% increase compared to the previous month, with the average export price decreasing slightly. Mainland China imported nearly all of Vietnam's cassava exports, maintaining a 96% market share. Vietnam's rank as the second largest supplier of cassava chips to China in 2020, with a 12.25% market share, indicates a successful strategy in targeting the Chinese market despite competition from Thailand and other countries. The growth in Vietnam's cassava exports is attributed to factors like the recovery of China's pig industry and adverse weather conditions in corn supply regions, and the trend is expected to persist.

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

Original content

Export of cassava and cassava products in 2020 is estimated at 2.8 million tons, worth about 989 million USD, up 9% in volume and 2.4% in value compared to 2019. In which, The Chinese market accounts for about 96% of Vietnam's total cassava export. In January 2021, due to a sharp increase in world corn prices, China increased imports of cassava chips to replace corn in some applications, such as animal feed. Vietnam has benefited greatly from this trend. According to preliminary statistics of the General Department of Vietnam Customs, exports of cassava and cassava products nationwide in January 2021 were estimated at 472,805 tons, equivalent to $ 174.62 million, up over 23%. in volume and turnover compared to December 2020; compared to a year earlier (January 2020), the growth rate was very strong, respectively 122.9% (in volume) and 139.7% (in turnover), although the average export price decreased. slightly 0.5% compared to December, to 369.3 USD / ton. Compared to January 2020, ...

Source: CafeF