Global Cassava Market 2024

Cassava Market Size

The global cassava market totaled $X in 2023, almost unchanged from the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, consumption reached the peak level of $X. From 2022 to 2023, the growth of the global market failed to regain momentum.

Cassava Production

In value terms, cassava production rose modestly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2023, global production growth failed to regain momentum.

The countries with the highest volumes of production in 2023 were Nigeria (X tons), Democratic Republic of the Congo (X tons) and Thailand (X tons), together accounting for X% of global production. Ghana, Brazil, Cambodia, Indonesia, Vietnam, Angola, India, Mozambique, Cote d'Ivoire and Tanzania lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Cote d'Ivoire (with a CAGR of X%), while production for the other global leaders experienced more modest paces of growth.

The global average cassava yield reached X tons per ha in 2023, flattening at 2022. In general, the yield, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The global yield peaked at X tons per ha in 2018; however, from 2019 to 2023, 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.

The global cassava harvested area shrank to X ha in 2023, therefore, remained relatively stable against the previous year's figure. The harvested area increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2019 when the harvested area increased by X% against the previous year. Over the period under review, the harvested area dedicated to cassava production reached the maximum at X ha in 2022, and then declined modestly in the following year.

Cassava Exports

Exports

In 2023, after three years of growth, there was significant decline in shipments abroad of cassava, when their volume decreased by X% to X tons. Overall, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The global exports peaked at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.

In value terms, cassava exports fell sharply to $X in 2023. Over the period under review, exports, however, showed a notable expansion. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the global exports attained the maximum at $X in 2022, and then shrank dramatically in the following year.

Exports by Country

In 2023, Thailand (X tons) represented the major exporter of cassava, generating X% of total exports. Cambodia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Vietnam (X%). Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of cassava. At the same time, Lao People's Democratic Republic (X%) and Cambodia (X%) 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 X% from 2012-2023. By contrast, Vietnam (X%) illustrated a downward trend over the same period. While the share of Cambodia (X p.p.) and Lao People's Democratic Republic (X p.p.) increased significantly in terms of the global exports from 2012-2023, the share of Thailand (X p.p.) and Vietnam (X p.p.) displayed negative dynamics.

In value terms, the largest cassava supplying countries worldwide were Thailand ($X), Cambodia ($X) and Lao People's Democratic Republic ($X), with a combined X% share of global exports.

Lao People's Democratic Republic, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average cassava export price stood at $X per ton in 2023, dropping by X% against the previous year. In general, export price indicated a perceptible increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cassava export price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2019 an increase of X%. The global export price peaked at $X per ton in 2022, and then dropped modestly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (X%), while the other global leaders experienced more modest paces of growth.

Cassava Imports

Imports

After three years of growth, purchases abroad of cassava decreased by X% to X tons in 2023. Overall, total imports indicated a slight expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2022 when imports increased by X%. Over the period under review, global imports reached the maximum at X tons in 2017; however, from 2018 to 2023, imports remained at a lower figure.

In value terms, cassava imports shrank sharply to $X in 2023. Over the period under review, total imports indicated slight growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Global imports peaked at $X in 2022, and then fell notably in the following year.

Imports by Country

China (X tons) and Thailand (X tons) prevails in imports structure, together generating X% of total imports. South Korea (X tons) took a little share of total imports.

From 2012 to 2023, the biggest increases were recorded for Thailand (with a CAGR of X%), while purchases for the other global leaders experienced a decline in the imports figures.

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

From 2012 to 2023, the average annual growth rate of value in China stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Thailand (X% per year) and South Korea (X% per year).

Import Prices by Country

The average cassava import price stood at $X per ton in 2023, approximately reflecting the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2022 to 2023, the average import prices failed to regain momentum.

Prices varied noticeably by country of destination: 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 2023, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform