China slows down purchasing and the price of Vietnamese cassava starch drops sharply

Published 2024년 12월 22일

Tridge summary

The Vietnam Cassava Association reports a decrease in cassava prices and slow purchase rates from Chinese factories, leading to low inventory levels. The export price of cassava starch and chips has fallen, with the export price of cassava chips to China also decreasing due to reduced demand from processing factories and the replacement of cassava chips with corn. Despite these challenges, Vietnam remains the largest exporter of cassava and cassava products to China, accounting for 95.9% in volume and 94.37% in value of the total export.

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

Original content

According to the Vietnam Cassava Association, since the beginning of December 2024, although cassava prices have dropped sharply, demand for purchases from Chinese factories has remained very slow. Inventory in Qingdao (China) is at about 120,000 tons (at a very low level compared to the consumption of cassava starch in the Chinese market during the main crop season every year). Currently, cassava starch prices offered to major ports in China are all low, currently the export price of cassava starch offered by Vietnamese factories is at 423-435 USD/ton, FOB Ho Chi Minh City port, down 20 USD/ton compared to the end of last month. The export price of cassava starch through Lang Son and Mong Cai border gates fluctuates at 3,130-3,250 CNY/ton, down 140 CNY/ton compared to the end of last month. According to the Import-Export Department (Ministry of Industry and Trade), the export price of cassava chips continued to decrease compared to the end of last month. Currently, the export ...

Source: Danviet