Thai Ministry of Commerce eyeing Chinese cassava market
The Ministry of Commerce is keeping a close watch on the Chinese cassava market as corn prices continue to surge.
 |
Commerce Minister Sontirat Sontijirawong said recently that China will be looking to increase its import quota of Thai cassava after Chinese New Year 2018, following a 7% increase in corn prices throughout mainland China.
He said that China uses cassava in the production of alcoholic beverages.
Sontirat then warned Thai cassava exporters to sell the crop at the market price and not take advantage of Chinese buyers, adding that the ministry doesn’t wish to regulate cassava prices but will do so if necessary. He said such regulation would only add to the burden on sellers.
He noted that the Department of Foreign Trade will this year lead a team of cassava exporters to Turkey and New Zealand for business negotiations. Both countries are potential buyers because of their booming animal feed industries.