Vietnam suddenly became the largest supplier of a type of starch to China

Published Apr 19, 2024

Tridge summary

In March 2024, Vietnam witnessed a significant surge in its cassava and cassava product exports, with a 45.1% increase in volume and a 47.6% rise in value from February 2024, despite a slight decrease in volume but a 15.6% increase in value over the first three months compared to the same period in 2023. China remains the primary market, absorbing 94.24% of these exports, with Vietnam overtaking Thailand as the top supplier of cassava starch to China in early 2024. However, the Vietnam Cassava Association highlights challenges such as inconsistent raw material supplies and a forecasted early summer in 2024 reducing demand for cassava products in the food industry. This has led to a reduction in cassava chip purchases by export enterprises, expecting over a 10% drop in consumption for 2024, prompting some businesses to consider diversifying their agricultural product range.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to information from the Import-Export Department (Ministry of Industry and Trade), exports of cassava and cassava products increased again in March 2024. Statistics from the General Department of Customs show that in March 2024, Vietnam exported 314,860 tons of cassava and cassava products, worth 142.09 million USD, an increase of 45.1% in volume and an increase of 47.6% in volume. % in value compared to February 2024. Cumulatively in the first 3 months of 2024, the export of cassava and cassava products reached 944,930 tons, worth 430.44 million USD, down 3.3% in volume but up 15.6% in value compared to the same period in 2023. . Regarding cassava products alone, in March 2024, cassava exports reached 88,060 tons, worth 23.02 million USD, an increase of 35.9% in volume and an increase of 39.4% in value compared to February 2024. The average export price is at 261.5 USD/ton, up 2.6% compared to February 2024, but down 10.9% compared to March 2023. Accumulated in the ...
Source: Danviet
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