Illustrative Image
Cassava is a prominent cash crop in Vietnam, with a strong presence in the country’s export market. Beyond well-known cash crops such as coffee and pepper, as well as various types of fruits, Vietnam boasts a lucrative crop in cassava, where every part of the plant is sought-after by international markets.
Cassava boasts a multitude of uses, ranging from industrial processing and animal feed to food for human consumption. The roots are used for fresh consumption, animal feed, dried cassava slices, cassava flour, starch, modified starch, and various starch-based products.
The stems find application in propagation, mushroom cultivation, firewood, and as a source of cellulose for the industry. Even the leaves are utilized as feed for fisheries and silkworms, later being exported to markets in South Korea, Japan, and regions with significant Asian populations.
Currently, over 40 provinces in Vietnam cultivate cassava, with key regions including the Northern Midland Mountainous area, North Central Coast, South Central Coast, Central Highlands, and Southeast region. The total cultivation area ranges between 520,000 and 550,000 hectares, yielding a production of over 10 million tons of fresh cassava roots. The average yield stands at 19-20 tons per hectare.
In terms of export performance, preliminary statistics from the General Department of Customs indicate that Vietnam’s export of cassava and cassava products in July reached over 218,000 tons, valued at more than $105 million. This represents a significant increase of 54.7% in volume and 54.9% in value compared to the previous month.
For the first seven months of the year, the total export volume exceeded 1.6 million tons, generating a revenue of over $735 million. While the volume decreased by 2.5% compared to the same period last year, the export value witnessed a substantial increase of 10.6%.
A notable highlight is the significant rise in cassava prices, reaching $458 per ton, which translates to a 12% increase compared to the previous year.
In terms of volume, China remains the largest consumer market, importing 1.46 million tons of cassava and cassava products, valued at over $668 million. While the volume slightly decreased by 0.6%, the export value increased by 14%, with an average export price of $455 per ton, marking a 14% rise.
South Korea followed as the second-largest market, importing over 36,000 tons of cassava, valued at more than $11 million. However, compared to the previous year, there was a significant decrease of 54% in volume and 62% in value. The average export price also dropped by 18%, reaching $309 per ton.
Taiwan ranked third, importing over 32,000 tons of cassava, valued at more than $17 million. This marked a positive increase of 10% in volume and 21% in value compared to the same period last year. The export price reached $551 per ton, a 10% increase.
Along with Thailand, Vietnam dominates the global export supply of cassava, with a total export value of over $1.3 billion in 2023. However, experts caution that Vietnam’s cassava exports remain heavily reliant on the Chinese market, which poses certain risks.
According to statistics, the import volume of cassava chips into China from the beginning of 2024 has significantly decreased compared to the average of the past three years. This is attributed to reduced demand from Chinese factories, coupled with low corn prices, which incentivizes factories to favor corn over cassava chips.
Looking ahead, it is anticipated that Chinese factories may resume purchases from July 2024 onwards as their cassava chip inventory levels dwindle.
The most extensive bribery case ever in Thanh Hoa: Numerous suspects prosecuted for “Giving and Receiving Bribes”
The Provincial Security Investigation Agency (PSIA) of Thanh Hoa province announced on January 31st that it has made the decision to initiate a prosecution against 23 individuals in connection with the offenses of “Accepting bribes” and “Giving bribes” as stipulated in Article 354(3) and Article 364(2) of the Criminal Code.
Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
“Prosecution of government officials, land registration officers, and tax department employees in the largest bribery case ever”
The Thanh Hoa Police Investigative Agency has initiated legal proceedings against 23 individuals involved in the crimes of “Bribery” and “Receiving bribes”. This is the largest bribery case in terms of the number of suspects ever discovered and apprehended by the Thanh Hoa Police.
Mobile World achieves revenue of VND118,000 trillion: TVs, tablets, and phones all decrease by 10% – 50%, while one product grows in both quantity and revenue.
Mobile World Investment Corporation (MWG) has recently announced its 2023 business results. According to the report, the company’s consolidated revenue reached over 118 trillion Vietnamese dong, equivalent to 89% of the revenue in 2022.
Vietnam’s Irresistible ‘Specialty’ That China Desperately Wants to Revive: Highly Popular from the US to Asia, Bringing in Millions of Dollars
Vietnam is one of the largest exporting countries in the world, along with China and the Philippines.
