For the Fourth Quarter of 2021
The Industry and Trade Information Center in Thailand raised the value floor of cassava flour from 475 USD/MT to 480 USD/MT in the first quarter of this year, resulting in a price rise from 0.41 USD/kg to 0.42 USD/kg. Simultaneously, other merchants, such as the Thai Yam and Tapioca Factories Association, raised the price of exported chips by 0.5 USD/kg. The price of raw cassava, on the other hand, remained stable around 0.075-0.080 USD/kg.
Cassava starch prices in the United Kingdom were estimated between 1220 USD/MT and 1290 USD/MT during December 2021. Due to the characteristics like elasticity, abrasion resilience, and capacity to make a connection with the fiber, cassava starch was widely employed in the textile industry for finishing, sizing and printing.
In Q4 of 2021, cassava starch prices in Brazil was gradually increasing at the rates of 540 USD/MT in October, 620 USD/MT in November, and 629 USD/MT in December. The price rose following a low productivity while demand increased.
For First, Second and Third Quarters of 2021
The cassava industry grew as a result of urbanization, increased working population, and rising family incomes, the global food sector was rapidly expanding, particularly in emerging economies such as India and China. This encouraged the industry's rise by increasing demand for ready-to-eat food products.
Cassava flour has been in high demand in the global market for culinary and pastry goods since it had less gluten. Increased demand for processed foods leads to increased investment and the establishment of new food businesses dedicated to the production of gluten-free products.
In 2021, the average Brazilian cassava starch prices for the first three quarters were 441, 447, 520 USD/MT, respectively. The consumption patterns and overall market demand for the tuber was consistent since it is a well-established product in South American countries. The population increase in Latin America, as well as rising demand in the food industry were the primary drivers of its market in 2021.
For the Year 2020
In 2020, in Vietnam cassava market price was around 94 to 98 USD/MT while in Indonesia the price range was 68 to 72 USD/MT. Thailand was ranked fifth in exports in 2020, with a global share of 6.32%, a value of USD 5.77 million, and a volume of 4.84 MT. On the other hand, it was rated 19th in imports for 2020, with a 0.46% share valued at USD 578.19 thousand and a volume of 92.96k MT.
In the beginning of 2020, the import price for cassava in the United Kingdom was 1170 USD/MT. Manufacturers were trying to develop and invent clean-label meals and food ingredients, which boosted demand for and acceptance of flour as a natural product in the global food and beverage sectors. Global demand for the flour was driven by technological advancements, industrial expansion, and higher population growth.
In 2020, U.S. cassava starch prices were recorded at 668 USD/MT in January, 640 USD/MT in February, 692 USD/MT in March. The global cassava flour market grew as a result of the growing consumer inclination to lead a healthy lifestyle which resulted in higher consumption of healthy food products and food ingredients. Furthermore, rising demand for packaging innovation, convenience foods, and an expanding population willing to pay a premium for healthy food were some of the drivers driving market expansion.
In 2020, in Brazil cassava starch market prices dropped from 633 USD/MT in January to 472 USD/MT in February, and even further to 427 USD/MT in March. While prices somewhat recovered to 540 USD/MT in October, they dropped again to 466 USD/MT in November and remained somewhat rangebound till the year end. The market faced issues due to the decline in demand and consumption as governments imposed lockdowns and transportation restrictions affected several food industries.
Procurement Resource provides latest prices of Cassava Starch. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Procurement Resource provides prices of Cassava Starch for several regions around the globe, which are as follows:
About Cassava Starch:
Cassava Starch refers to the beady starch derived from the tuberous roots of the cassava plant, also known as Manihot esculenta. It is processed into several forms, that is, hot soluble powder, meal, pre-cooked fine/coarse flakes, rectangular sticks, and spherical "pearls" at the commercial level. Amongst these, pearls are the most widely available shape, and its size range from nearly 1 mm to 8 mm in diameter.
The wet milling process includes softening of plant roots, grinding, as well as separation of impurities to finally produce cassava starch. This method of extraction includes cleaning and sorting of plant material as well. After washing and grating cassava, the obtained starch milk is dried to finally obtain Cassava Starch.
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The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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