(VAN) This year, cassava export prices have fallen sharply due to an abundant supply. However, exports of cassava and cassava products have increased significantly, offsetting the decline in prices.
Farmers harvesting cassava in Tay Nguyen. Photo: Thanh Son.
Vietnam’s cassava and cassava product exports have faced unfavorable prices since the beginning of the year, as export prices have dropped sharply. In the first seven months of the year, the average export price of cassava and cassava products to China reached USD 304.6 per ton, down nearly 34% compared to the same period in 2024.
According to the Vietnam Cassava Association, the export price of cassava starch has remained at USD 385-395 per ton (FOB, Ho Chi Minh City Port) since the beginning of August, much lower than the around USD 500 per ton recorded in August 2024.
In that context, there is a positive point in cassava exports – strong growth in volume. In the first seven months of the year, exports of cassava and cassava products reached over 2.48 million tons, an increase of nearly 55% compared to the same period in 2024. As a result, despite the sharp decline in export prices, export turnover still increased slightly by 2.8%, reaching USD 757 million.
This shows that, despite significant price fluctuations, Vietnam still maintains an advantage in stable supply, thanks to large cassava cultivation areas and improved yields. Many businesses have proactively signed contracts early to avoid risks when the market price drops, thereby helping to sustain more stable growth.
In the first half of 2025, China’s imports of cassava and cassava starch grew strongly, with total imports of these two items reaching 6.19 million tons, worth USD 1.69 billion – up 91% in volume and 28% in value compared to the same period in 2024. This very high growth reflects the increasing role of cassava products in the supply chain of raw materials for the food industry, animal feed, and bioenergy in China.
In response to rising import demand from China, Vietnam’s cassava sector has boosted exports of cassava starch and dried cassava to this market. Information from Chinese Customs shows that in the first six months of this year, Vietnam surpassed Thailand to become the largest supplier of cassava starch to China with 1.34 million tons – up 110% compared to the same period in 2024 – accounting for 48% of China’s total cassava starch imports (compared to over 36% in the same period last year).
For dried cassava, in the first six months of the year, Vietnam exported 662,000 tons to China – an increase of 137% compared to the same period in 2024. Vietnam remains the second-largest supplier of dried cassava to the Chinese market.
Vietnam’s cassava and cassava product exports in the remaining months of this year will still depend heavily on the Chinese market, which accounts for over 90% of its exports.
Cassava ready for harvest. Photo: Thanh Son.
According to the Department of Vietnam Customs, in the first seven months of 2025, China was Vietnam’s largest export market for cassava and cassava products, accounting for 95% in volume and 93% in value of the country’s total exports.
However, as China’s market inventory is currently high (about 450,000 tons of cassava starch are in stock at major Chinese ports), along with abundant supply from Thailand and Laos creating direct competition pressure on Vietnam’s cassava, Vietnamese businesses are stepping up efforts to diversify export markets.
Diversifying markets also helps businesses reduce the pressure of being “price squeezed” by Chinese traders. Nguyen Thi Khue, Director of Dinh Khue Co., Ltd. (Tay Ninh), said the company is boosting cassava starch exports to Taiwan, with prices 10-15% higher than those exported to China.
The Taiwan market is seeing rising demand for cassava starch imports, especially from Vietnam. In the first seven months of this year, Vietnam was the second-largest supplier of cassava starch to Taiwan, reaching 31,000 tons – up 21% in volume compared to the same period in 2024. Vietnam’s market share of cassava starch accounted for 16% of Taiwan’s total imports, higher than the 14% recorded in the first seven months of 2024.
In addition, companies are also promoting cassava and cassava products in the domestic market. According to Nguyen Thi Khue, while in previous years the domestic market only accounted for about 40% of Dinh Khue’s sales, this year it has risen to 65-70%.
In addition to supplying food processing plants and animal feed manufacturers, cassava companies are expecting the resumption of biofuel ethanol plants. According to forecasts, starting in November 2025, the E10 biofuel program will enter a period of strong operation, driving up ethanol demand. This presents an opportunity for Vietnam’s cassava sector to boost domestic consumption, reduce export pressure, and therefore expect better export prices than current levels.
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