Vietnam: Cassava Market 2024

Cassava Market Size in Vietnam

The Vietnamese cassava market expanded rapidly to $X in 2022, surging by X% against the previous year. In general, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Cassava Production in Vietnam

In value terms, cassava production expanded slightly to $X in 2022 estimated in export price. In general, production, however, saw a deep downturn. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

The average yield of cassava in Vietnam declined modestly to X tons per ha in 2022, approximately reflecting the previous year. The yield figure increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the average cassava yield attained the maximum level at X tons per ha in 2021, and then contracted slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The cassava harvested area in Vietnam was estimated at X ha in 2022, remaining stable against the previous year's figure. Overall, the harvested area, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the harvested area increased by X%. The cassava harvested area peaked at X ha in 2016; however, from 2017 to 2022, the harvested area remained at a lower figure.

Cassava Exports

Exports from Vietnam

In 2022, shipments abroad of cassava decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then shrank in the following year.

In value terms, cassava exports shrank modestly to $X in 2022. Overall, exports saw a drastic downturn. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

China (X tons) was the main destination for cassava exports from Vietnam, with a X% share of total exports. Moreover, cassava exports to China exceeded the volume sent to the second major destination, South Korea (X tons), fourfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to China amounted to X%.

In value terms, China ($X) remains the key foreign market for cassava exports from Vietnam, comprising X% of total exports. The second position in the ranking was taken by South Korea ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to China totaled X%.

Export Prices by Country

In 2022, the average cassava export price amounted to $X per ton, picking up by X% against the previous year. In general, the export price, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2014 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (X%).

Cassava Imports

Imports into Vietnam

In 2022, overseas purchases of cassava increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, imports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2021 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, cassava imports soared to $X in 2022. Over the period under review, imports enjoyed significant growth. The growth pace was the most rapid in 2021 when imports increased by X%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

In 2022, Cambodia (X tons) was the main cassava supplier to Vietnam, accounting for a X% share of total imports. Moreover, cassava imports from Cambodia exceeded the figures recorded by the second-largest supplier, Lao People's Democratic Republic (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Cambodia amounted to X%.

In value terms, Cambodia ($X) constituted the largest supplier of cassava to Vietnam, comprising X% of total imports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Cambodia stood at X%.

Import Prices by Country

The average cassava import price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the price for Cambodia amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (X%).

Source: IndexBox Platform