Exports of cassava starch to face hurdles this year

It is expected that throughout 2020 China will continue making adjustments to the Value Added Tax for cassava starch that are imported through official channels from 13 per cent to 10 per cent, resulting in the price of cassava starch being exported through border areas becoming less competitive.
exports of cassava starch to face hurdles this year

Illustrative image (Source: Internet)

According to the Agro Processing and Market Development Authority under the Ministry of Agriculture and Rural Development (MARD), Vietnam’s exports of cassava and cassava-based products during 2019 reached 2.5 million tonnes with a value of US$973 million, representing a rise of 3.2 per cent in volume and 1.6 per cent in value against the figures from 2018.

The average export price of cassava and cassava-based products throughout the previous year was at an estimated US$386 per tonne, down 2.3 per cent compared to 2018.

With regard to the market structure, China continued to be the largest importer of the country’s cassava products last year, making up 89.2 per cent of the market share, up 0.6 per cent in volume and down 1 per cent in value compared to 2018.

They were followed by the Republic of Korea’s with 3.1 per cent of the market share, Taiwan at 1.5 per cent, Malaysia at 1.2 per cent, and the Philippines at 1.2 per cent.

Most notably, the import demand for Vietnamese cassava chips and starch from China experienced a downward trend.

In addition, the northern neighbour also tightened regulations regarding labeling, packaging, and information on all cassava starch products coming from Vietnam, while closely monitoring imports through border trade channels in the process.

At present, the supply source of cassava chips from the 2019 to 2020 crop continues to suffer a decline as a result of scarce inputs, while cassava starch processors are speeding up their purchases.

Moreover, the price of maize and wheat has also experienced an upward trend, meaning that the demand for cassava chips within the animal feed industry is predicted to enjoy positive growth over the course of the year.

Source: VOV

Related News

Chinese goods flock to Vietnam in the first half of 2024

Chinese goods flock to Vietnam in the first half of 2024

VCN - In the first 6 months of 2024, the import turnover of goods from China to Vietnam will grow strongly by tens of percent compared to the same period in 2023.
Agricultural, forestry and fishery product exports reached US $ 29.2 billion in the first half of the year

Agricultural, forestry and fishery product exports reached US $ 29.2 billion in the first half of the year

VCN - In the first six months of the year, total export turnover of agricultural, forestry and fishery products reached US $29.2 billion, up 19% over the same period in 2023.
Enterprises self- renovate to promote exports to the Central region

Enterprises self- renovate to promote exports to the Central region

VCN - Opportunities to cooperate and promote the export of products of Central region enterprises directly into foreign distribution networks and effectively participate in the global production value chain... are assessed to have a lot of potential.
Shifting production to expand exports to the Northern European market

Shifting production to expand exports to the Northern European market

VCN - Nordic countries often map out policies to achieve EU goals sooner than others. Among them, general principles and standards regulating manufacturers' responsibilities for textiles and garments from Nordic countries need to be paid attention by businesses.

Latest News

Vietnamese lychee sold well at Costco stores in Australia

Vietnamese lychee sold well at Costco stores in Australia

Lychee, one of Vietnam’s major export fruits, has been sold well at Costco stores in Western Australia and South Australia, according to the Vietnam Trade Office in Australia.
Durian exports forecast to top 3 billion USD in 2024

Durian exports forecast to top 3 billion USD in 2024

Durian exports may surpass 3 billion USD this year, according to Dang Phuc Nguyen, General Secretary of the Vietnam Vegetable and Fruit Association (Vinafruit).
FTA - support to promote pangasius export

FTA - support to promote pangasius export

VCN - The implementation of FTAs ​​always creates favorable conditions for businesses to expand and diversify markets, bringing Vietnamese seafood, including pangasius, to participate deeperly into the global production and supply chain.
Vietnam - France trade reached nearly US$2.5 billion in the first half of the year

Vietnam - France trade reached nearly US$2.5 billion in the first half of the year

VCN - France is Vietnam's leading trade partner in Europe with bilateral turnover reaching billions of US$/year.

More News

Technology increases competitiveness in the logistics race

Technology increases competitiveness in the logistics race

VCN - In the context that the logistics industry in Vietnam is forecast to continue to grow strongly, many businesses are actively applying technology and expanding service chains to take advantage of opportunities and keep pace with the general trend.
MoIT proposes key solutions to cope with rising sea freight prices

MoIT proposes key solutions to cope with rising sea freight prices

The Ministry of Industry and Trade (MoIT) has requested local associations and businesses to coordinate implementing key solutions to promote imports and exports as sea freight rates rise.
Vietnamese seaports to handle 1.2-1.4 billion tonnes of cargo by 2030

Vietnamese seaports to handle 1.2-1.4 billion tonnes of cargo by 2030

Vietnam's seaport cargo throughput is set to reach 1.2-1.4 billion tonnes by 2030, with container cargo expected to range from 46.3 to 54.34 million TEUs, according to a detailed plan for the development of seaport groups, wharfs, jetties, buoy berths, and water areas in 2021-2030, with a vision to 2050.
Binh Dinh seeks investment opportunities from Germany, France

Binh Dinh seeks investment opportunities from Germany, France

A delegation from the south central province of Binh Dinh led by Permanent Vice Secretary of the provincial Party Committee Le Kim Toan paid a working trip to Germany and France to explore investment opportunities from July 17-22, reported the provincial Department of Planning and Investment.
Warnings as HRC steel imports continue to increase rapidly

Warnings as HRC steel imports continue to increase rapidly

The amount of imported hot-rolled coil steel in the first six months of this year increased sharply to an alarming level, 1.7 times higher than domestic production.
MoIT warns about international trade fraud

MoIT warns about international trade fraud

Trade experts said that the number of cases was increasing and taking place in all markets from Africa, the Middle East, India to developed countries such as the US, the Netherlands, and Italy.
Corporate culture "lighting the way" for sustainable development

Corporate culture "lighting the way" for sustainable development

VCN - The government aims to cultivate and develop numerous business leaders capable of heading strong economic conglomerates by 2030, leveraging their roles to lead and pave the way. To achieve this goal, financial strength alone is not enough; a robust foundation in business culture is essential.
The fast-moving consumer goods industry aims for green and sustainable development

The fast-moving consumer goods industry aims for green and sustainable development

VCN - Vietnam's consumer goods industry currently has the fastest growth rate in the ASEAN region. However, for sustainable development in the future, businesses in the fast-moving consumer goods industry need to aim for green consumption.
Stronger “medicine” needed to help businesses overcome difficulties

Stronger “medicine” needed to help businesses overcome difficulties

Businesses have suggested the Government maintain its support to help them overcome difficulties, recover production and business activities, and promote growth, given the fact that many of them still face difficulties despite the country’s GDP growth rate of 6.42% in the first half of this year.
Read More

Your care

Latest Most read
Vietnamese lychee sold well at Costco stores in Australia

Vietnamese lychee sold well at Costco stores in Australia

Lychee, one of Vietnam’s major export fruits, has been sold well at Costco stores in Western Australia and South Australia, according to the Vietnam Trade Office in Australia.
Durian exports forecast to top 3 billion USD in 2024

Durian exports forecast to top 3 billion USD in 2024

Durian exports may surpass 3 billion USD this year, according to Dang Phuc Nguyen, General Secretary of the Vietnam Vegetable and Fruit Association (Vinafruit).
FTA - support to promote pangasius export

FTA - support to promote pangasius export

VCN - According to the Vietnam Association of Seafood Exporters and Producers (VASEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is considered an important step for the seafood industry to "take off", in which there
Vietnam - France trade reached nearly US$2.5 billion in the first half of the year

Vietnam - France trade reached nearly US$2.5 billion in the first half of the year

France is Vietnam's leading trade partner in Europe with bilateral turnover reaching billions of US$/year.
Technology increases competitiveness in the logistics race

Technology increases competitiveness in the logistics race

VCN - Logistics plays an important role in the entire process from social production, import and export, circulation and distribution to consumption, creating added value, making an increasingly greater contribution to promoting the growth of the country'
Mobile Version