VIENTIANE (Xinhua): Laos earned more than US$408 million by exporting cassava in the first five months of 2023, making it the most profitable crop grown in the country.
The main markets for cassava are China, Vietnam and Italy, Lao News Agency (KPL) on Monday quoted Lao Minister of Planning and Investment Khamjane Vongphosy as saying at the fifth ordinary session of the National Assembly (Ninth Legislature) of Laos.
The cultivation of cassava in Laos has increased due to rising demand from other countries, especially near neighbors.
Laos has the potential to be a major cassava producer as it remains a largely agricultural economy. But many cassava farmers face challenges that reduce their chances of making a large profit, including limited knowledge of modern cultivation methods.
In 2022, Laos earned US$1.7bil from all agricultural exports. In addition, Laos expects to earn about US$2 billion in 2023.
The export value of agricultural produce in the first five months of this year reached US$901 million, equaling 75.14 per cent of the target for 2023, with the main export crops being cassava, coffee, bananas, maize and sugarcane.
The government is also improving infrastructure and production methods, such as providing product analysis equipment for laboratories, equipment for grain separation, and facilities that enable crops to be dried or frozen, as well as seeking new markets, according to the report. - Xinhua
