Industry and Trade Accounting for 93.8% of total exports, China is still Vietnam's largest consumer market for cassava and cassava products in the first 2 months of 2023.
China is the largest consumer market of Vietnamese cassava products
Department of Import and Export (Ministry of Industry and Trade) cited data General Statistics Office said that in February 2023, Vietnam's export of cassava and cassava products to the Chinese market reached 436.9 thousand tons, worth 161.98 million USD, an increase of 95.4% in volume and an increase of 86.4%. about value in January 2023; Compared to February 2022, an increase of 88.7% in volume and an increase of 71.9% in value.
 |
| In February 2023, cassava export price to the Chinese market increased by 8.2% |
In February 2023, exports of cassava and cassava products to the Chinese market accounted for 93,36% of the country's total cassava and cassava products exports. With this number, China is still Vietnam's largest market for cassava and cassava products.
Average export price of cassava and products from cassava Chinese market in February 2023 at 370.8 USD/ton, down 4.6% compared to January 2023, but up 8.2% compared to February 2022.
Overall, in the first 2 months of 2023, Vietnam exported to China 659.84 thousand tons of cassava and cassava products, worth 248.14 million USD, an increase of 37.1% in volume and an increase of 23.4% in value. value compared to the same period in 2022. Export of cassava and cassava products to the Chinese market accounts for 93.8% of the country's total cassava and cassava products exports in the first 2 months of 2023.
China increased purchases of cassava and cassava products from Vietnam in the first 2 months of 2023, after the country lifted Covid-19 quarantine measures. The types of cassava and cassava products exported to the Chinese market by Vietnam are mainly cassava starch and dried cassava chips.
In 2023, in the context of rising global inflation, China will be the most potential destination for Vietnamese cassava and cassava products thanks to high demand, close geographical location, and lower logistics costs compared to exports. export to other markets.
Meanwhile, the supply and price of corn and wheat are directly affected by the war situation in Ukraine. Therefore, the demand for cassava in the world market will continue to increase in the near future.
It is forecast that next month, the demand for cassava and cassava starch from China will still be high as this market increases food and grain reserves for consumption. In addition, the energy and animal feed industries have also turned to importing cassava products as alternatives, leading to increased demand for cassava. This is an opportunity for businesses to promote the export of cassava and cassava starch to this market.
Domestic fresh cassava prices continue to stand at a high level
According to the Vietnam Cassava Association, the price of fresh cassava at Central region - Central Highlands continues to stand at a high level in the context of scarce late-season cassava supply, while factories all want to increase operating capacity before the end of the season.
The yield and quality of cassava in the coming crop in Tay Ninh are likely to seriously decline due to mosaic disease. Currently, many factories have had to close the season due to the high price of raw cassava and the end-of-season raw material source running out earlier than the same period in the 2021/22 crop year.
Vietnamese cassava starch export quotes from many factories are higher than the price Chinese customers can accept. Currently, Vietnamese factories focus on selling domestically at prices higher than export prices. Meanwhile, the output of cassava chips purchased for storage in the 2022/23 crop decreased sharply compared to the 2021/22 crop. The price accepted to buy from Chinese customers is several tens of USD/ton lower than the offer price of the Vietnamese cassava chip exporter.
Fresh cassava prices in the Central and Central Highlands continue to trend slightly upward, in the context of low raw material supply at the end of the season.
Currently, the price of fresh cassava purchased in Tay Ninh fluctuates at 3,400 - 4,000 VND/kg, an increase of 100 - 300 VND/kg compared to the previous 10 days. In Dak Lak, the price fluctuates at 2,900 - 3,000 VND/kg, an increase of 50 VND/kg compared to 10 days ago. In Gia Lai, prices fluctuated at 2,950 - 3,100 VND/kg, stable compared to the previous 10 days. In the Central region, the price of fresh cassava fluctuates at 2,650 - 3,000 VND/kg, an increase of 250 VND/kg compared to the previous 10 days.
In the North, the price of fresh cassava fluctuates at 2,400 - 2,600 VND/kg, an increase of 150 VND/kg compared to 10 days ago. Vietnamese factories are offering cassava starch at prices ranging from 500 - 525 USD/ton - FOB City port. Ho Chi Minh City, increased by 20 USD/ton compared to 10 days earlier.
The price of cassava starch delivered in Mong Cai and Lang Son was at 3,400 - 3,650 CNY/ton, up 50 CNY/ton compared to 10 days earlier. Meanwhile, the export price of iron slices to the Chinese market is about 305 USD/ton - FOB Quy Nhon; Export price to the Korean market is about 355 USD/ton - FOB Quy Nhon, stable compared to the previous 10 days.
