Vietnam is the world's second largest exporter of this commodity, with China being the largest customer.

Although Vietnam's cassava and cassava product exports decreased compared to 2023, this is still one of the agricultural export items with a value of over 1 billion USD in 2024.

According to statistics from the General Department of Customs, in 2024, Vietnam's cassava and cassava product exports reached 2.62 million tons, worth 1.15 billion USD, down 11.1% in volume and 11.4% in value compared to 2023.

For cassava alone, in 2024, cassava exports reached 647.84 thousand tons, worth 119.07 million USD, down 43.1% in volume and 48.6% in value compared to 2023.

In 2024, the average export price of cassava and cassava products decreased slightly compared to 2023, due to slow demand from China, so the price Cassava exports have been consistently low in recent months. The average export price of cassava and cassava products in 2024 will reach 440.4 USD/ton, down 0.2% compared to 2023.

In 2024, China will still be the largest consumer market for cassava and cassava products in Vietnam, accounting for 92.85% in volume and 91.77% in value of the total cassava and cassava product exports of the country, reaching 2.43 million tons, worth 1.06 billion USD, down 9.8% in volume and 10.6% in value compared to 2023.

The average export price of cassava and cassava products from Vietnam to China in 2024 will be 435.3 USD/ton, down 0.8% compared to 2023. China's slowing demand for cassava and cassava products in 2024 has affected Vietnam's exports of this item.

In general, in 2024, Vietnam's cassava and cassava product exports will still depend heavily on the Chinese market and will not be able to take advantage of opportunities to expand export markets to countries and regions that have signed Free Trade Agreements (FTAs) such as the EU, Korea, Japan, the US, etc. In these markets, the amount of cassava and cassava products imported from Vietnam is still very low.

While most markets have reduced imports, one country has increased its purchases sharply, namely Pakistan. In 2024, this market imported more than 1,000 tons of cassava from Vietnam, worth 763 thousand USD, an increase of 120% in volume and 143% in value.

Pakistan has a high import demand for most of Vietnam's export products. From traditional agricultural products such as: Tea, pepper, cashew nuts, pangasius fillets... to consumer goods such as: Clothing, shoes) or new products with high technology content such as: Mobile phones, washing machines, printers...

According to the General Statistics Office, Vietnam is currently the second largest cassava exporter in the world after Thailand, with more than 120 industrial-scale cassava starch processing factories and a total designed capacity of 11.3 million tons of fresh tubers/year. Up to now, the cassava growing area in the country is about 530,000 hectares/year.

In 2025, China will still be the most potential destination for cassava and cassava products from Vietnam thanks to its large demand, close geographical location, and lower logistics costs and risks than other markets. However, in this market, cassava and cassava starch from Vietnam are facing strong competition from cassava and cassava starch from Thailand, Laos and Cambodia.

The export target for cassava and cassava products is 1.8 - 2 billion USD by 2030.

Source: CafeF