Notably, Japan is emerging as a rapidly increasing market for cassava imports from Vietnam. In the first 4 months of 2023, cassava exports to Japan reached 2,280 tons, worth USD1.16 million, up to 3,357.6 % in volume and 1,742% in value over the same period in 2022.
In April 2023, China was still the largest market for Vietnam's cassava and cassava products, accounting for 88.59% of the country's total cassava exports with 168,150 tons, worth USD65.92 million. In the first 4 months of 2023, Vietnam exported to China 1.05 million tons of cassava and cassava products, worth USD397.37 million, down 3.3% in volume and 15.7% in value compared to the same period in 2022.
As for cassava starch, in the first three months of 2023, Vietnam is the second largest market supplying this product to China, with 400,330 tons, worth USD177.71 million, up 12.1% in volume but down by 2.3% in value from the same period in 2022. Vietnam held a 39.39% market share of cassave starch in China, a sharp increase compared to 30.67% in the first 3 months of 2022.
According to the Vietnam Cassava Association, in the first 10 days of May, 2023, the price of fresh cassava purchased fluctuated at VND3,000-3,600 per kilogram. Currently, the inventory of cassava starch is very low, so the selling price is pushed up.
Meanwhile, the inventory of cassava starch in China is low, so Chinese customers also accept to buy at a high price. Export prices of cassava starch in Lang Son and Mong Cai (Quang Ninh) continued to increase.
Vietnamese factories are offering cassava starch for sale at prices in the range of USD535-555 per ton, an increase of USD10 per ton compared to the end of April 2023. The price of tapioca starch delivered in Mong Cai and Lang Son was at CNY3,750-3,950 per ton, an increase of 100-150 CNY per ton compared to the end of April 2023./.