Cassava exports set to earn US$1.5 billion this year

Vietnam is expected to export US$1.5 billion of cassava in 2015, said the Ministry of Agriculture and Rural Development.

Harvesting cassava in Yen Duong commune, northern Bac Kan province’s Ba Be district. (Image credit: backan.gov.vn)

The country shipped 3.42 million tonnes of cassava abroad in the first ten months of the year, making US$1.09 billion, a year-on-year increases of 22.6% in volume and 19.1% in value.

China is currently Vietnam’s largest importer. It purchased 89.1% of Vietnamese cassava exports during the period, up 37.1% in volume and 33.03% in value. Other buyers include Japan, the Republic of Korea, the Middle East and Malaysia.

The ministry said it believed that cassava exports will expand further if the country gains access to overseas markets other than China.

The cassava industry is planning to head to the US and the EU. It aims to earn US$2 billion from exports by 2020.

According to the Vietnam Cassava Association, Vietnam plants nearly 600,000 hectares of cassava annually at an average yield of 17.63 tonnes per hectare.

Southern Tay Ninh province ranks first in terms of average yield and second in cultivation area.

(Source: nhandan.org.vn)