Vietnam targets $2 billion in cassava exports due to China’s import demand.

Vietnam has set the target for cassava export at around US$2 billion by 2030 under the project on promoting the sustainable development of the cassava industry recently approved by the Ministry of Agriculture and Rural Development.

By 2050, the export value is expected to reach $2.3-2.5 billion.

The cassava export is mainly driven by the import demand of China.

Statistics of the General Department of Customs showed that Việt Nam exported 944.93 tonnes of cassava and products from cassava in the first quarter of this year, worth $430.44 million, representing a rise of 15.6 per cent in value over the same period last year.

The average casava export price was $451.3 per tonne in March, up 1,7 per cent against February and 18.2 per cent over the same month last year.

Casava export prices averaged $455.5 per tonne in the first quarter, up 19.5 per cent.

Notably, China was the largest importer of Việt Nam’s cassava which imported 94.2 per cent of Việt Nam’s total cassava export volume and 92 per cent of value.

Cassava is the first type of vegetable of Việt Nam which sees billion-US-dollar export value.

Việt Nam’s casava export in 2023 was reported at $1.3 billion.

Under the project on promoting cassava industry development, Việt Nam eyes to achieve a total output of fresh cassava at 11.5-12.5 million tonnes by 2030 with around 50 per cent of the plantation areas to apply sustainable farming process.

By 2050, 70-80 per cent of the cassava plantation areas will apply sustainable farming process. — VNS