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Cassava exports enjoy 12.1% surge over nine months

20:09 | 08/10/2020

Vietnam exported 1.94 million tonnes of cassava and cassava-based products, earning US$685 million during the past nine months of the year, according to the Ministry of Agriculture and Rural Development (MARD).

The latest figures represent annual increases of 12.1% in volume and 1.7% in value, with export prices standing at US$352.6 per tonne, a decline of 9.3% against the same period from last year.

Most notably, the export of cassava chips witnessed a sharp rise of 81% in volume and 90% in value, with the export price increasing by 5% to US$226 per tonne compared to US$216 per tonne recorded during the same period last year.

Meanwhile, the export of cassava starch during the reviewed period reached a total of US$573 million, down 1% in volume and 7% in value year on year, with the export price recording a drop of 7% to US$395 per tonne.

China remained Vietnam’s most significant export market, consuming 1.58 million tonnes of cassava and cassava-based products worth US$547 million from its neighbor, up 14.8% in volume and 1.6% in price.

Elsewhere, Taiwan (China) and the Malaysia also recorded strong growth with the export value to these markets increasing by 27% and 11.7%, respectively.

Still, cassava chips and starch exports are anticipated to face challenges as a result of weaker demand from China coupled with low domestic inventories.

Source: VOV