Ghana’s Cassava Starch Prices Are Uncompetitive in the Global Market

World market prices of cassava starch have declined from a peak of FOB USD 540/MT at the end of May to USD 515/MT at the end of August, representing a 4.6% drop. Additional reduction in freight and logistics prices has made the largest producing countries such as Thailand more attractive to buyers compared to Ghana whose FOB prices range between USD 705-750/MT. The price of residual fuel oil (RFO), an integral input in the cassava starch production process, in Ghana has increased almost 100% since April 2022 contributing to the high cassava prices. Increased input costs in Ghana combined with shifting global market dynamics are making Ghanaian suppliers uncompetitive in the international market.