China remains largest market for Vietnamese cassava
China continued to be Vietnam’s largest export market for cassava and cassava products in 2024, according to data from the General Department of Customs.
A farmer harvests cassava in Lai Chau province (Photo: VNA)
Hanoi (VNS/VNA) - China continued to be Vietnam’s largest export marke🐻t for cassava and ca🐷ssava products in 2024, according to data from the General Department of Customs.
In 2024, Vietnam exported 2.62 million tonnes of cassava and cassava products, valued at 1.15 billion USD, marking an 11.1% decline in volume and an 11.4% decrease in value compared to 2023.
China accounted for 92.85% of the total export volume and 91.77% of the total export value, amounting to 2.43 million tonnes worth 1.06 billion USD. This represents a 9.8% drop in volume and a 10.6% reduction in value year-on-year. The average export price to China was 435.3 USD per tonne, down 0.8% from 2023.
Despite the declines, cassava and cassava products remain among Vietnam’s agricultural exports earning over 1 billion USD annually.
In terms of cassava alone, exports in 2024 reached 647,840 tonnes, valued at 119.07 million USD, reflecting a sharp decrease of 43.1% in volume and 48.6% in value compared to 2023. The average export price of cassava was 254 USD per tonne, down 9.7%.
The average export price of cassava and cassava products in 2024 slightly decreased to 440.4 USD per tonne, down 0.2% from 2023. The drop was attributed to reduced demand for animal feed in China, due to flooding and natural disasters affecting livestock farming.
Vietnam’s cassava exports still rely heavily on the Chinese market, with limited penetration into other markets such as the EU, the Republic of Korea, Japan and the US, despite free trade agreements (FTAs) with these regions.
The Ministry of Industry and Trade expects China to remain Vietnam’s most lucrative market for cassava in 2025 due to high demand, geographic proximity and lower logistics costs and risks compared to other markets.
According to the Ministry of Agriculture and Rural Development, Vietnam currently has over 140 cassava starch processing plants with a designed capacity of 13.4 million tonnes of fresh cassava annually and an actual processing capacity of 9.3 million tonnes./.
Vietnam targets cassava exports at around 1.8 - 2 billion USD by 2030 under a project on sustainably developing the product approved recently by the Ministry of Agriculture and Rural Development.
Cassava recorded the strongest export growth rate in January, as Vietnam shipped 76,118 tonnes abroad, earning 19.9 million USD, up 369.6% month-on-month in volume and 340.8% in value, according to the General Department of Vietnam Customs.
The Vietnam Cassava Association has proposed the Government does not implement a recent decision on value-added tax (VAT) refunds for cassava starch products as it will create difficulties for the cassava industry.
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