Surging animal feed prices a blessing in disguise for Thai cassava growers
The Philippines is set to sign a 20-billion-baht pact with Thailand to purchase cassava chips and pellets.
Ronnarong Phoolpipat, Department of Foreign Trade director-general, said on Thursday that the rising price of animal feed due to the Russia-Ukraine war is a blessing for Thailand.
The department has teamed with the Bureau of International Trade Promotion Strategy to hold a meeting with the Philippines Association of Feed Millers (PAFMI) and cassava processing firms on Sunday. The meeting, scheduled to be held in Nakhon Ratchasima province, will see the signing of a memorandum of understanding (MoU) on the purchase of 20 billion baht worth of cassava-based animal feed yearly.
Since the price of cassava products has reached a satisfactory level, the Commerce Ministry is taking steps to expand the market and boost production.
In the first nine months of this year, Thailand exported 8.73 million tonnes of cassava products worth over 115.48 billion baht. Of the exports, 36% were cassava chips and pellets, and the remainder cassava starch.
