Cassava starch and other end products are used in a variety of food produce, the textile and garment industry, the brewery business, the carpentry sector, cosmetology, confectionaries, food and non-food applications such as making papers, adhesives, and pharmaceuticals.
Cassava production has consistently had a ready market over the years, making it one of the most successful companies to invest in. This is because most companies rely on it for revenue, and cassava has reaped the benefits of this ready market. A ready market means that there are real customers, sellers, or investors prepared to trade or own your product, and this is the first benefit that every cassava grower who has a ready market enjoys. The burden of figuring out where to find clients has been lifted.
Cassava was responsible for 8.8 million tons of production in 2020. The cassava starch market is expected to reach USD 66.84 billion/11.0 million tons by 2026, according to experts and currently, a ton of cassava starch is sold at $495 on the international market, that is for Thailand and the price of ethanol is exceeding $1000 as of now. The cassava producing sector continues to grow and expand year after year as a result of the ready market.
Cassava production has a ready market, which has resulted in strong demand, resulting in the industry booming, and the bigger the boom, the higher the revenue. In 2017, a country in West Africa produced 59 million tons of produce, accounting for 20% of global production. The cassava business has the potential to generate USD26 billion per year, according to the chairman of the Nigeria Cassava Growers Association.
Cassava production has had a favourable impact on the labour market. As the ready market expands and demand grows, more people will be required to supply this demand constantly. As a result, a large number of people have been employed and are benefiting from the cash generated by cassava cultivation. It has been a steady source of revenue for its employees for many years.
Farmers don’t have to worry about how to retain produce for a long time or preserve it while looking for clients because the ready market leases the expense of storage over time. As a result, there is a ready market for the product to be purchased as soon as it is manufactured.
Thus, even when the harvest is abundant, the farmer does not need to consider the length of storage; money for storage and preservation is saved and used for further growth or otherwise.
While there is a steady ready market for cassava, this does not apply to all cassava varieties. Due to a variety of factors, some cassava growers do not have access to a ready market. As a result, they have no clients to sell the food to as soon as it is produced, forcing them to consider storage and preservation costs.
To solve all ready market crises, TIAST Ghana has been introduced into the Agric-space. Torchbearer International Agricultural Investment and Management (Hangzhou) Co. Ltd has been the principal name for over 30 years on the international market. Since its inception in China, the organization has delivered on its tendency of adding value to agriculture even as it extends its services to West Africa as TIAST Group, currently in Ghana.
With the organisation’s partnership with the Ghana Export Promotion Authority, the offtake of processed cassava starch is 100% guaranteed.
TIAST Group assures the exportation of processed items to the global market at international market prices every week. The elimination of the challenges of ready market confronted by most farmers is hence guaranteed. Consequently, competitive prices become the target, helping achieve significant market traction.
Talk of a ready market and TIAST Group is the leading promoter.
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