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Vietnam’s cassava exports enjoy sharp increase in first quarter of 2021

Malie Nguyen Malie Nguyen

Dieuhuong270198@gmail.com

April 14, 2021 | 09:35

Vietnam's export of cassava and cassava products stood at an estimated 1.07 million tonnes worth $396 million during the first quarter of the year, a year-on-year increase of 40.3% in volume and 53.3% in value, according to figures released by the Ministry of Industry and Trade (MoIT).

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This comes following the market share of Vietnamese cassava chips as part of China's total imports increased sharply throughout the reviewed period.

March alone witnessed the country export roughly 385,000 tonnes of cassava and cassava products worth $142 million, posting a rise of 17.1% in volume and 23.9% in value compared to the same period from last year.

The average export price of cassava in March recorded an increase of 1% compared to February, whilst rising by 5.8% compared to March 2020, to $369 per tonne, VOV reported.

Vietnam’s cassava exports enjoy sharp increase in first quarter of 2021

Vietnam’s cassava exports enjoy a sharp increase in the first quarter of 2021. Photo: VOV

During the initial three months of the year, the nation shipped 1.07 million tonnes of cassava and cassava products abroad worth $396 million.

According to figures compiled by China Customs, during the initial two months of the year, China's import of cassava chips surged by 151.9% on-year to $222.65 million, with Thailand, Vietnam, Cambodia, Laos, and Tanzania being the five largest cassava chips suppliers to the East Asian giant.

The nation ranks second among the largest suppliers of cassava chips to the Chinese market, with export turnover reaching $41.72 million, up 209.9% against the same period from last year, with the country’s share of the cassava chips market accounting for 18.74% of China’s total imports.

Throughout the reviewed period the northern neighbor mainly imported cassava starch from Thailand, Vietnam, Indonesia, Laos, and Cambodia, with Vietnam representing the second-largest supplier to China with 158,220 tonnes worth $70.57 million, up 38% in volume and 53.4% in value over the same period from 2020.

Vietnam gains cassava export growth in 2020

Vietnam gained growth in the export of cassava chips and cassava-made products in 2020 despite the COVID-19 pandemic.

According to the Department of Agricultural Product Processing and Market Development, exports last year reached 2.76 million tonnes, earning $989 million, an increase of 9% in volume and 2.4% in value compared to 2019. However, the average export price of those products reduced by 6% to $358.3 per tonne year on year, according to Nhan Dan Newspaper.

In December alone an estimated 330,000 tonnes with a value of $118 million were exported.

Impacts of the COVID-19 pandemic did cause problems for the cassava production industry according to the department under the Ministry of Agriculture and Rural Development, but it was still one of the few agricultural products with positive growth in export value.

Vietnam’s cassava exports enjoy sharp increase in first quarter of 2021

Farmers harvesting cassava in the central province of Binh Thuan, January 2021. Photo by VnExpress/Viet Quoc.

The exports of cassava chips in 2020 reached 640,000 tonnes, earning $139 million, up 60% in volume and 75% in value over the same period last year. The average export price for this product reached $217 per tonne, up 10%.

Tapioca export was estimated at 2.1 million tonnes with a value of $850 million, down 1% in volume and 4% in value over the same period in 2019. Its average export price reached $401 per tonne, down 4%.

According to the department, China was the largest export market with the total volume of cassava chips and cassava-made products reaching 1.9 million tonnes, earning $772 million. That's an increase of 11.5% in volume and 2.7% in value compared to 2019.

Taiwan (China) and Malaysia were also two other largest export markets of Vietnamese cassava with the growth in export value of 15% and 3% year on year, respectively, in the first 11 months of 2020.

In China market, Vietnam is currently the second-largest supplier of both cassava chips and tapioca, according to China’s General Department of Customs.

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Malie Nguyen