Eastern Asia: Cassava Market 2024

Cassava Market Size in Eastern Asia

In 2022, the East Asian cassava market increased by 19% to $X, rising for the third consecutive year after two years of decline. The total consumption indicated slight growth from 2012 to 2022: its value increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +85.6% against 2019 indices. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Cassava Production in Eastern Asia

In value terms, cassava production contracted modestly to $X in 2022 estimated in export price. The total production indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +1.3% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 64%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

The country with the largest volume of cassava production was China (X tons), comprising approx. 100% of total volume.

In China, cassava production remained relatively stable over the period from 2012-2022.

In 2022, the average yield of cassava in Eastern Asia reached X tons per ha, approximately equating the year before. Overall, the yield recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of 2.6%. The level of yield peaked at X tons per ha in 2017; however, from 2018 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the harvested area of cassava in Eastern Asia dropped to X ha, stabilizing at the previous year's figure. In general, the harvested area, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the harvested area increased by 1.8%. The level of harvested area peaked at X ha in 2019; however, from 2020 to 2022, the harvested area failed to regain momentum.

Cassava Exports

Exports in Eastern Asia

In 2022, shipments abroad of cassava was finally on the rise to reach X tons for the first time since 2017, thus ending a four-year declining trend. Overall, exports, however, recorded a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of 66%. The volume of export peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, cassava exports rose sharply to $X in 2022. Over the period under review, exports, however, saw a deep slump. The most prominent rate of growth was recorded in 2017 when exports increased by 77%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, China (X tons) was the main exporter of cassava in Eastern Asia, creating 99% of total export.

China was also the fastest-growing in terms of the cassava exports, with a CAGR of -8.5% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, China ($X) also remains the largest cassava supplier in Eastern Asia.

In China, cassava exports plunged by an average annual rate of -5.9% over the period from 2012-2022.

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, shrinking by -3.4% against the previous year. Export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, cassava export price increased by +3.4% against 2020 indices. The growth pace was the most rapid in 2015 an increase of 57% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for China.

From 2012 to 2022, the rate of growth in terms of prices for China amounted to +2.9% per year.

Cassava Imports

Imports in Eastern Asia

In 2022, supplies from abroad of cassava increased by 29% to X tons, rising for the third year in a row after two years of decline. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when imports increased by 62%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, cassava imports soared to $X in 2022. Overall, imports showed a modest increase. The most prominent rate of growth was recorded in 2021 with an increase of 92%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China dominates imports structure, reaching X tons, which was approx. 96% of total imports in 2022. South Korea (X tons) followed a long way behind the leaders.

China experienced a relatively flat trend pattern with regard to volume of imports of cassava. South Korea (-5.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of China increased by +3.5 percentage points.

In value terms, China ($X) constitutes the largest market for imported cassava in Eastern Asia, comprising 95% of total imports. The second position in the ranking was taken by South Korea ($X), with a 5% share of total imports.

From 2012 to 2022, the average annual growth rate of value in China totaled +1.3%.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, surging by 3.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.6%. The pace of growth appeared the most rapid in 2018 an increase of 32%. The level of import peaked in 2022 and is likely to continue growth in the near future.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per ton), while China totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+4.8%).

Source: IndexBox Platform

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