Asia-Pacific: Cassava Market 2024

Cassava Market Size in Asia-Pacific

The Asia-Pacific cassava market reduced slightly to $X in 2022, approximately equating the previous year. The market value increased at an average annual rate of +1.5% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a lower figure.

Cassava Production in Asia-Pacific

In value terms, cassava production dropped modestly to $X in 2022 estimated in export price. The total production indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -13.5% against 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 45%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

The countries with the highest volumes of production in 2022 were Thailand (X tons), Indonesia (X tons) and Vietnam (X tons), together comprising 69% of total production. Cambodia, India, China and Lao People's Democratic Republic lagged somewhat behind, together comprising a further 26%.

From 2012 to 2022, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Lao People's Democratic Republic (with a CAGR of +10.9%), while production for the other leaders experienced more modest paces of growth.

The average cassava yield contracted slightly to X tons per ha in 2022, remaining relatively unchanged against 2021 figures. In general, the yield, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the yield increased by 3.3%. The level of yield peaked at X tons per ha in 2021, and then shrank modestly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. X ha of cassava were harvested in Asia-Pacific; therefore, remained relatively stable against 2021. In general, the harvested area showed a mild setback. The most prominent rate of growth was recorded in 2015 with an increase of 2.3%. Over the period under review, the harvested area dedicated to cassava production attained the peak figure at X ha in 2012; however, from 2013 to 2022, the harvested area stood at a somewhat lower figure.

Cassava Exports

Exports in Asia-Pacific

In 2022, shipments abroad of cassava increased by 8.2% to X tons, rising for the third consecutive year after two years of decline. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 63%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, cassava exports expanded sharply to $X in 2022. In general, exports posted mild growth. The pace of growth was the most pronounced in 2021 with an increase of 69%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Thailand represented the major exporting country with an export of about X tons, which accounted for 86% of total exports. It was distantly followed by Vietnam (X tons), mixing up an 11% share of total exports. Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

Exports from Thailand increased at an average annual rate of +2.5% from 2012 to 2022. At the same time, Lao People's Democratic Republic (+33.2%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +33.2% from 2012-2022. By contrast, Vietnam (-10.8%) illustrated a downward trend over the same period. Thailand (+21 p.p.) and Lao People's Democratic Republic (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam saw its share reduced by -22.4% from 2012 to 2022, respectively.

In value terms, Thailand ($X) remains the largest cassava supplier in Asia-Pacific, comprising 79% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 10% share of total exports.

In Thailand, cassava exports expanded at an average annual rate of +3.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+42.8% per year) and Vietnam (-10.8% per year).

Export Prices by Country

The export price in Asia-Pacific stood at $X per ton in 2022, approximately equating the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth was the most pronounced in 2018 an increase of 29% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+7.2%), while the other leaders experienced more modest paces of growth.

Cassava Imports

Imports in Asia-Pacific

In 2022, overseas purchases of cassava increased by 36% to X tons, rising for the third consecutive year after two years of decline. Total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +136.4% against 2019 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cassava imports skyrocketed to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +154.8% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 55%. The level of import peaked in 2022 and is likely to see steady growth in the immediate term.

Imports by Country

China represented the largest importer of cassava in Asia-Pacific, with the volume of imports accounting for X tons, which was approx. 60% of total imports in 2022. It was distantly followed by Thailand (X tons), creating a 36% share of total imports. South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +18.0%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, China ($X) constitutes the largest market for imported cassava in Asia-Pacific, comprising 70% of total imports. The second position in the ranking was held by Thailand ($X), with a 20% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in China totaled +1.3%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (+20.2% per year) and South Korea (-1.3% per year).

Import Prices by Country

The import price in Asia-Pacific stood at $X per ton in 2022, waning by -3% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the import price increased by 19%. As a result, import price reached the peak level of $X per ton, and then shrank in the following year.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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