Global Cassava Market 2024

Cassava Market Size

After four years of growth, the global cassava market decreased by -0.6% to $X in 2022. The market value increased at an average annual rate of +1.6% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the global market remained at a lower figure.

Cassava Production

In value terms, cassava production declined slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 26%. As a result, production reached the peak level of $X. From 2015 to 2022, global production growth remained at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Nigeria (X tons), Democratic Republic of the Congo (X tons) and Thailand (X tons), together accounting for 44% of global production. Ghana, Brazil, Indonesia, Vietnam, Angola, Cambodia, Cote d'Ivoire, Tanzania, India and Malawi lagged somewhat behind, together comprising a further 36%.

From 2012 to 2022, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of +10.8%), while production for the other global leaders experienced more modest paces of growth.

In 2022, the global average yield of cassava rose modestly to X tons per ha, increasing by 2% against the year before. Overall, the yield showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 10% against the previous year. Over the period under review, the average cassava yield attained the maximum level at X tons per ha in 2018; however, from 2019 to 2022, the yield failed to regain momentum. 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 worldwide; with a decrease of -3.6% on the previous year's figure. The harvested area increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2019 with an increase of 9.1% against the previous year. Over the period under review, the harvested area dedicated to cassava production attained the maximum at X ha in 2021, and then contracted modestly in the following year.

Cassava Exports

Exports

In 2022, overseas shipments of cassava increased by 8% to X tons, rising for the third year in a row after two years of decline. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 60%. The global exports peaked at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, cassava exports expanded notably to $X in 2022. In general, total exports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +148.9% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 60% against the previous year. Over the period under review, the global exports attained the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Thailand was the main exporter of cassava in the world, with the volume of exports resulting at X tons, which was near 84% of total exports in 2022. It was distantly followed by Vietnam (X tons), creating an 11% share of total exports. The following exporters - Costa Rica (X tons) and Lao People's Democratic Republic (X tons) - each reached a 4% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to cassava exports from Thailand stood at +2.5%. At the same time, Lao People's Democratic Republic (+33.2%) and Costa Rica (+4.5%) displayed positive paces of growth. Moreover, Lao People's Democratic Republic emerged as the fastest-growing exporter exported in the world, with a CAGR of +33.2% from 2012-2022. By contrast, Vietnam (-10.8%) illustrated a downward trend over the same period. Thailand (+20 p.p.) and Lao People's Democratic Republic (+1.9 p.p.) significantly strengthened its position in terms of the global exports, while Vietnam saw its share reduced by -22% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest cassava supplier worldwide, comprising 72% of global exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 9.3% share of global exports. It was followed by Vietnam, with an 8.6% share.

In Thailand, cassava exports increased at an average annual rate of +3.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Lao People's Democratic Republic (+42.8% per year) and Vietnam (-10.8% per year).

Export Prices by Country

In 2022, the average cassava export price amounted to $X per ton, almost unchanged from the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. The growth pace was the most rapid in 2018 when the average export price increased by 29%. The global export price peaked in 2022 and is likely to see gradual growth in years to come.

Prices varied noticeably by country of origin: 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 global leaders experienced more modest paces of growth.

Cassava Imports

Imports

In 2022, overseas purchases of cassava increased by 35% to X tons, rising for the third consecutive year after two years of decline. In general, total imports indicated notable 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 +128.7% 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 surged to $X in 2022. Overall, total imports indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.8% 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 +133.2% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 49% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2022, China (X tons) was the key importer of cassava, generating 59% of total imports. It was distantly followed by Thailand (X tons), comprising a 35% share of total imports. South Korea (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +18.0%), while purchases for the other global leaders experienced a decline in the imports figures.

In value terms, China ($X) constitutes the largest market for imported cassava worldwide, comprising 66% of global imports. The second position in the ranking was taken by Thailand ($X), with a 19% share of global imports.

In China, cassava imports expanded at an average annual rate of +1.3% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Thailand (+20.2% per year) and South Korea (-1.3% per year).

Import Prices by Country

The average cassava import price stood at $X per ton in 2022, which is down by -3.1% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 16%. As a result, import price attained the peak level of $X per ton, and then declined 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 global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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