Thai cassava exporters urged to find other markets

BANGKOK, August 12 (TNA) - As China has turned to import more cassava roots and flour from other producing countries, Thai exporters are urged to explore other oversea markets to help the Kingdom rely less on that country, according to a report issued by Kasikorn Research Center. The report quoted the Thai Tapioca Trade Association as projecting that Thailand’s exports of tapioca and its products during 2012 would be about 6.85 million tonnes, up seven per cent from 2011 due to high demand and rising prices in the global market. But both prices and exports could be depressed if the Thai government decides to release its stock as it is projected the government has approximately 9.5 million tonnes of cassava in stock. Although export of Thai tapioca to China which now stands at 52.6 per cent of the total could further grow this year due to several positive factors, including production of ethanol by using cassava root, Thai exporters should start exploring other markets, said Kasikorn Research Center. China, it said, has begun to import more cassava root from the three Indochinese countries, Myanmar and Nigeria and tapioca flour from Vietnam and Myanmar. Thai exporters will undoubtedly face a fiercer competition in future and they are advised to find other prospective oversea markets such as Indonesia, Malaysia, the Philippines and Hong Kong. (TNA)