China's Cassava Starch Imports Soar by 66%, Vietnam's Exports Surge by 40%, Market Dynamics Shift!

In the first seven months of this year, China's imports of cassava starch from Southeast Asian countries totaled $1.08 billion, of which nearly 800,000 tons were imported from Vietnam, the Viet Cong Electronic News reported.

Official statistics from China's General Administration of Customs show that in July, China's imports of cassava starch (HS 11081400 yards) totaled 289,200 tons, with a total value of 145.1 million US dollars, and the import volume and import value increased by 66.3% and 55.9% respectively compared with the same period last year.

This data further confirms that China's cassava starch imports have maintained year-on-year growth for the fifth consecutive month. In the first seven months of this year, China imported 2.05 million tons of cassava starch from Southeast Asian countries, with a total value of 1.08 billion US dollars, an increase of 21.8% and 33.7% over the same period last year. Among them, Thailand, Vietnam, Laos, Cambodia and Indonesia are the main suppliers.

Of particular note is that Thailand became the largest supplier of cassava starch to China in the first seven months of this year, while Vietnam ranked second, with a total of 762,272 tons of cassava starch exported to China, totaling more than $393.2 million. Compared with the same period last year, the volume of cassava starch exported from Vietnam to China increased by 40 percent and the value of exports increased by 56 percent.

China's imports of tapioca starch from Vietnam accounted for 37.2 percent of its total imports, up from 32.35 percent in the first seven months of 2023. At the same time, China has also increased imports of cassava starch from Laos, Cambodia and Brazil, while reducing imports from Indonesia.

In the first eight months of this year, Vietnam exported 1.79 million tons of cassava and its products, with a total export value of $822.7 million, according to the official report of the Vietnam Customs Bureau. Although the volume of exports fell 3.8 per cent from the same period last year, the value of exports increased by 7 per cent year-on-year.

In terms of export products, tapioca starch and dried tapioca chips from Vietnam were the main export products in the first eight months. Compared with the same period in 2023, the export volume and export volume of cassava starch showed an increase trend.