The export of dried cassava chips since the beginning of 2020 has witnessed robust growth in comparison with the same period last year, and the demand for the chips is anticipated to continue increasing.
The General Department of Vietnam Customs reports between January-July Vietnam raked in US$95.41 million from exporting 418,380 tonnes of dried cassava chips, representing annual increases of 101.1% in volume and 94% in value. Vietnam’s major consumers included China, the Republic of Korea, Indonesia, and Malaysia.
Of the figures, dried chip cassava exports to China accounted for 85.8% of the total export volume with 359,008 tonnes, earning US$79.27 million, up 173.3% in volume and 183.3% in value.
Most notably, the average export price of dried cassava chips to the Chinese market enjoyed a surge of 3.7% to US$220.8 per tonne in comparison with the corresponding period from last year.
According to forecasts by the Thai Tapioca Trade Association, the demand for dried cassava chips is projected to witness an increase in the future due to a general decline in quantity occurring at Chinese inventories.
The export price of cassava chips in the short-term is anticipated to remain high as the products are in short supply and some cassava growing areas are infected with leaf mosaic disease, according to the Ministry of Industry and Trade.