Commerce Min eyeing Chinese cassava market

 

 

BANGKOK, 12th February 2018 (NNT) – 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 on Saturday 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.

 

-- nnt 2018-02-12

 

5 hours ago, webfact said:

Sontirat then warned Thai cassava exporters to sell the crop at the market price and not take advantage of Chinese buyers

What does he mean?

If supply and demand dictates a higher price, does that not become the market price?

But it seems the message is keep the price unchanged from current market price so as not to upset China. So Thai exporters make less. Not the Commerce Minister's problem?