Cassava recorded the strongest export growth rate in January, as Vietnam shipped 76,118 tonnes abroad, earning 19.9 million USD, up 369.6% month-on-month in volume and 340.8% in value, according to the General Department of Vietnam Customs.

The figures represented increases of 30.9% in volume and 36.4% in value compared to those of the same month last year.

In the month, the export revenue of cassava and cassava products surpassed 195 million USD, up 38.1% month-on-month.

China maintained its position as Vietnam’s largest cassava importer. In January, Vietnam exported 401,945 tonnes of cassava and related products to China, earning 183 million USD, up 48% in volume and 38% in value from the previous month. China’s market share also expanded from 91% in 2023 to 94% in the first month of 2024.

The Southeast Asian country also sold these products to the Republic of Korea, Malaysia, Japan and Pakistan.

Vietnam currently ranks second in the world in terms of cassava exports, after Thailand.

The export value of cassava and cassava products rose from 958 million USD in 2018 to nearly 1.5 billion USD in 2022. The revenue is expected to increase to 2 billion USD by 2028 and 2.5 billion USD by 2050.

VNA