In the first half of 2023, Asian cassava producers like Vietnam and Cambodia experienced a prosperous period with robust yields, driven by improved global trade and supply chains. This led to heightened demand, particularly from China. In contrast, South American cassava markets, led by Brazil, initially saw positive trends but faced tough competition from Asian suppliers due to their surplus production. Exports decreased, causing prices to decline consistently from February. Despite this, steady domestic consumption in Brazil helped sustain the cassava market.
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Definition
Cassava is a starchy root vegetable commonly cultivated in tropical regions. Also known as yuca or manioc, it serves as a vital source of carbohydrates and is a staple food for millions worldwide. Cassava is versatile and can be consumed in various forms, from boiled and fried to processed into flours and starches. Its resilience in challenging growing conditions makes it a crucial crop for food security.
Key Details About the Cassava Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Cassava in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Cassava Price chart, including India Cassava price, USA Cassava price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Cassava Price Trend:
Cassava finds key industrial applications across industries. Its starch is widely used in food processing for making products like noodles, snacks, and baked goods due to its binding and thickening properties. Additionally, cassava starch is utilized in non-food sectors such as textiles, paper production, and pharmaceuticals. Its potential for biofuel production and as a feedstock for bioplastics also highlights its significance in sustainable industrial endeavors.
Key Players:
- Dadtco Philafrica B.V
- Tereos
- Cargill Incorporated
- Ingredion Incorporated
- Alvan Blanch Development Company Limited
News and recent developments:
Enugu State Government (Nigeria) plans to allocate 100,000 hectares of land to enhance cassava production for export, aligning with its development goals. The Federal Government seeks collaboration with the state to advance agriculture. The emphasis is on creating a value chain from cassava, including flour, cake, and chips, to generate revenue. The initiative aligns with a Federal Executive Council-approved cassava pilot project in the South-east region, aiming to bolster the nation’s economy through agriculture.
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