Cassava, one of the crops used in a wide range of products including biofuel, food and industrial goods has emerged as one of the highly sought commodities for use in various industries. Currently, a ton of cassava starch is sold at USD525, a price which has risen from USD 510 to USD525 in just two months. This is a strong indication that cassava starch is in high demand.
The Agribusiness Perspective
Agribusiness has become a limelight in every economy and has over the decades pushed the economy of various economies forward. An economic indicator like the GDP has in most cases been positively pushed by agribusiness of which business in cassava starch can’t be left out. It is however imperative that agriculture can’t be left out of the country’s development.
The Industrialization Move
The cassava starch industry has contributed to the setting up of industries across the state. The industrialization has been a driving force for most of the developed western nations and has contributed significantly to the development of the country. Although there is a school of thought that argues that development can’t be achieved through industrialization only, it has proven to be one of the agents of change.
More Foreign Earnings
Robust economies like Thailand and China are active producers of the cassava starch commodity. When more of the products are being produced, the country gains more foreign earnings through its exports of cassava starch on the international market at standard market prices. It has, however; become imperative that cassava must be produced in a high quantity and processed into starch to export them on the international market.
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