China remains largest export market for Vietnamese cassava
VOV.VN - Despite the export of cassava and cassava products in July continuing to endure a decline compared to the same period from last year, China remained the largest export market of Vietnamese cassava, according to details given by the General Department of Customs.
The Import-Export Department under the Ministry of Industry and Trade quoted statistics from the General Department of Customs which state that in July the nation exported 145.23 thousand tonnes of cassava and cassava products. The value of these items was worth US$71.88 million, up 2.8% in volume and 9.8% in value compared to a month earlier.
However, compared to July, 2022, it marked a drop of 24.2% in volume and 17.2% in value. This represents the fifth consecutive month of decline compared to last year’s corresponding period.
Accumulated in the first seven months of the year, the export of cassava and cassava products reached 1.64 million tonnes, valued at US$665.57 million, down 14.4% in volume and 20.8% in value compared to same period from last year.
July witnessed China continue to be the largest export market of Vietnamese cassava and cassava products, duly accounting for 93.61% of the country's total cassava exports with 135.96 thousand tonnes, worth US$66.58 million, up 13.3% in volume and 20.2% in value compared to June.
However, compared to July, 2022, it endured a decline of 22.9% in volume and by 16.4% in value.
The opening seven months of the year saw Vietnam exports to the Chinese market reach 1.47 million tonnes of cassava and cassava products, worth US$589.27 million, down 15.9% in volume and 23.2% in value on-year.
In general, although the amount of cassava exports decreased during the seven-month period, the export of cassava and cassava products to this market continued to record decent growth in both volume and value compared to the same period from last year. It is worth noting that Malaysia, Taiwan (China), and Japan make up the major markets which witnessed positive growth.
However, these markets only account for a small proportion of the nation’s total export of cassava and cassava products.
Grain prices in China endured a fall and due to low consumption season, demand for cassava and tapioca starch in China also witnessed a downward trend over recent months.
Moving forward, it is forecast that Chinese demand for cassava and tapioca starch will increase again once the country enters the mooncake production season.
Elsewhere, Cambodia is in the process of accelerating the progress of cassava harvesting at the beginning of the season to sell to the country due to high prices, which may cause a sharp drop in the production of cassava harvested in the middle and late stages of the season.
