Cassava prices are showing a downward trend due to very slow demand from Chinese factories.
According to the Vietnam Cassava Association, since the beginning of December 2024, although cassava prices have dropped sharply, demand for purchases from Chinese factories has remained very slow. Inventory in Qingdao (China) is at around 120,000 tons (at a very low level compared to the consumption of cassava starch in the Chinese market during the main crop season every year).
Currently, the price of cassava starch offered to major ports in China is low. Currently, the export price of cassava starch offered by Vietnamese factories is at 423-435 USD/ton, FOB Ho Chi Minh City port, down 20 USD/ton compared to the end of last month. The price of cassava starch exported through Lang Son and Mong Cai border gates fluctuates at 3,130-3,250 CNY/ton, down 140 CNY/ton compared to the end of last month.
According to the Import-Export Department ( Ministry of Industry and Trade ), the export price of cassava chips continued to decrease compared to the end of last month. Currently, the export price of cassava chips to China fluctuates at 225 USD/ton, FOB Vietnam port, down 5 USD/ton compared to the end of last month; Meanwhile, the export price of cassava chips to Korea decreased to 280 USD/ton, FOB Quy Nhon, down 5 USD/ton compared to the end of last month.
In the context of the current slow output market and falling prices, cassava chip trading units in the 2024/25 crop may focus on purchasing cassava chips according to animal feed standards instead of purchasing large quantities of goods for use in alcohol production plants.
Exports of cassava and cassava products continued to decrease compared to the same period in 2023. According to statistics from the General Department of Customs, in November 2024, Vietnam exported 230,790 tons of cassava and cassava products, worth 90.75 million USD, up 30.8% in volume and 19.2% in value compared to October 2024. In the first 11 months of 2024, cassava and cassava products were exported to 2.32 million tons, worth 1.04 billion USD, down 12.8% in volume and 10% in value compared to the same period in 2023.
Cassava processing at a factory in Tay Ninh . Photo: Tay Ninh Newspaper.
Regarding export prices, due to slow demand from China, cassava export prices have been consistently low in recent months. In November 2024, the average export price of cassava and cassava products was 393.2 USD/ton, down 8.9% compared to October 2024 and down 21.5% compared to November 2023. In the first 11 months of 2024, the average export price of cassava and cassava products reached 450.2 USD/ton, up 3.3% over the same period in 2023.
In November 2024, China remained Vietnam's largest export market for cassava and cassava products, accounting for 95.9% in volume and 94.37% in value of the country's total cassava and cassava product exports, with 221,330 tons, worth 85.64 million USD, up 33.8% in volume and 21.9% in value compared to October 2024.
In the first 11 months of 2024, Vietnam exported 2.15 million tons of cassava and cassava products to China, worth 958.66 million USD, down 11.5% in volume and 9% in value compared to the same period in 2023.
The demand for cassava chips in the Chinese market continues to decline and has been going on since 2023. This sharp decline in cassava chip imports is largely due to reduced demand from Chinese cassava processing plants. In addition, low corn prices have caused many factories to replace cassava chips with corn.
According to statistics from the China Customs Administration, in October 2024, China's cassava chip imports reached 135,450 tons, worth 33.09 million USD, down 28.9% in volume and 29.4% in value compared to September 2024, down 42.1% in volume and 50.6% in value compared to October 2023. Thailand and Vietnam were the two markets supplying cassava chips to China in October 2024. China reduced imports of cassava chips from both Vietnam and Thailand.
In the first 10 months of 2024, China imported nearly 2.22 million tons of cassava chips, worth 561.57 million USD, down 58.5% in volume and 62% in value compared to the same period in 2023.
In the first 10 months of 2024, Vietnam was the second largest supplier of cassava chips to China, with 329,130 tons, worth 85.43 million USD, down 50.7% in volume and 53.3% in value compared to the same period in 2023. Vietnam's cassava chip market share accounted for 14.83% of China's total cassava chip imports, higher than the 12.47% level in the first 10 months of 2023.
China's imports of cassava chips from Thailand also decreased sharply in the first 10 months of 2024, reaching 1.87 million tons, worth 472.61 million USD, down 59.8% in volume and 63.4% in value compared to the same period in 2023. Thailand's cassava chip market share accounted for 84.54% of China's total cassava chip imports, much lower than the 87.22% level in the first 10 months of 2023.
Regarding cassava starch products, according to the Import and Export Department, China's cassava starch imports in October 2024 decreased compared to the previous month and the same period in 2023. According to statistics from the China Customs Administration, in October 2024, China's cassava starch imports reached 283,740 tons, worth 139.21 million USD, down 19.6% in volume and 19.8% in value compared to September 2024.
In the first 10 months of 2024, China imported 3.07 million tons of cassava starch, worth 1.59 billion USD, up 20.7% in volume and 23.8% in value over the same period in 2023, mainly imported from Thailand, Vietnam, Laos, Cambodia and Indonesia. Thailand was the largest supplier of cassava starch to China in the first 10 months of 2024, with 1.47 million tons, worth 787.39 million USD, up 0.4% in volume and 2.4% in value over the same period in 2023.
Thailand's cassava starch market share in China's total imports accounted for 48.08%, lower than the 57.8% level in the first 10 months of 2023. In the first 10 months of 2024, Vietnam was the second largest market supplying cassava starch to China, reaching 1.19 million tons, worth 603.59 million USD, up 50.6% in volume and 56.4% in value over the same period in 2023. Vietnam's cassava starch market share accounted for 39.04% of China's total cassava starch imports, higher than the 31.28% level in the first 10 months of 2023.
According to the data, in the first 10 months of 2024, China tended to reduce imports of cassava starch from Indonesia, while increasing imports from Thailand, Vietnam, Laos, and Cambodia. Therefore, the Import-Export Department recommends that Vietnamese enterprises need to continue to improve product quality and design to capture and maintain market share in this market.
Source: https://danviet.vn/trung-quoc-cham-mua-hang-gia-mot-loai-tinh-bot-cua-viet-nam-giam-sau-20241219182549557.htm
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