Cassava exports fall sharply in first two months
Viet Nam’s cassava exports dropped sharply in terms of volume and value during the first two months of this year, mainly due to falling demand in China.
According to the Ministry of Agriculture and Rural Development, Viet Nam exported 457,000 tonnes of cassava, earning US$166 million. Those figures were down 20.1 per cent in volume and 5.4 per cent in value year on year.
China was still the largest export market for Vietnamese cassava, accounting for 93.1 per cent, followed by the Philippines with 2.6 per cent and Malaysia with 1.3 per cent.
However, cassava exports decreased by 31.9 per cent in volume and 18.6 per cent in value to China, and by 9.6 per cent in volume and 4.3 per cent in value to Malaysia. Exports to the Philippines increased by 7.7 per cent in volume and 23.2 per cent in value.
Since last year, China has been maintaining a policy of holding low corn stock, plus it has increased imports from Thailand.
It has also implemented strict regulations on labelling, packaging and information on Vietnamese cassava starch products exported via border gates.
The average export price of cassava in February reached $363 per tonne, up 18.4 per cent compared to the same period in 2018.