Foreign businesses have agreed to purchase nearly 1.5 million tonnes of Thai tapioca products at the World Tapioca Conference 2018. (Photo: bangkokpost.com)

Bangkok (VNA) – Foreign businesses have agreed to purchase nearly 1.5 million tonnes of Thai tapioca products at the World Tapioca Conference 2018 recently organised in Bangkok.

The business matching event between Thai traders and importers from China, Turkey, Japan, India and Indonesia resulted in the signing of Memorandum of Understanding to acquire Thai cassava at a value of 14 billion THB (422.66 million USD).

Thailand produces 20-30 million tonnes of fresh cassava worth 100 billion THB each year, generating incomes for more than 500,000 families nationwide.

The country is currently the world’s largest exporters of tapioca products, making up over 50 percent of the global market share.

Combined with Cambodia, Laos and Vietnam, their total share of the global market is 80 percent.

Last year, Thailand exported 11 million tonnes of tapioca products. In the first four months of this year, it shipped 3.6 million tonnes abroad, a year-on-year decrease of 8 percent. However, the total value surged 26 percent to 1.17 billion THB (51.32 million USD).

In 2018, Thailand set a target of exporting 10.6 million tonnes of cassava products.-VNA