Cassava exports set to earn 1.5 bln USD this year. (Photo: VNA)

Hanoi (VNA) – Vietnam is expected to export 1.5 billion USD of cassava in 2015, said the Ministry of Agriculture and Rural Development.

The country shipped 3.42 million tonnes of cassava abroad in the first 10 months of the year, making 1.09 billion USD. This is year-on-year increases of 22.6 percent in volume and 19.1 percent in value.

China is currently Vietnam’s largest importer. It purchased 89.1 percent of Vietnamese cassava exports during the period, up 37.1 percent in volume and 33.03 percent 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 2 billion USD 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.-VNA