Thailand: Sunflower Seed Market 2024

Sunflower Seed Market Size in Thailand

In 2022, after three years of growth, there was decline in the Thai sunflower seed market, when its value decreased by X% to $X. In general, consumption saw a perceptible decrease. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Sunflower Seed Production in Thailand

In value terms, sunflower seed production reduced to $X in 2022 estimated in export price. In general, production showed a deep contraction. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

The average yield of sunflower seed in Thailand amounted to X kg per ha in 2022, therefore, remained relatively stable against the year before. In general, the yield continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the yield increased by X% against the previous year. The sunflower seed yield peaked at X kg per ha in 2015; however, from 2016 to 2022, the yield stood at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

The sunflower seed harvested area in Thailand totaled X ha in 2022, remaining constant against the previous year's figure. In general, the harvested area recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the harvested area increased by X%. The sunflower seed harvested area peaked in 2022 and is expected to retain growth in the immediate term.

Sunflower Seed Exports

Exports from Thailand

After two years of growth, shipments abroad of sunflower seed decreased by X% to X tons in 2022. Over the period under review, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2016 when exports increased by X%. The exports peaked at X tons in 2021, and then contracted in the following year.

In value terms, sunflower seed exports contracted to $X in 2022. Overall, exports, however, showed strong growth. The growth pace was the most rapid in 2016 with an increase of X%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The Philippines (X tons) was the main destination for sunflower seed exports from Thailand, accounting for a X% share of total exports. Moreover, sunflower seed exports to the Philippines exceeded the volume sent to the second major destination, Singapore (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume to the Philippines totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Singapore (X% per year) and Myanmar (X% per year).

In value terms, the Philippines ($X) remains the key foreign market for sunflower seed exports from Thailand, comprising X% of total exports. The second position in the ranking was held by Myanmar ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the Philippines totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (X% per year) and Singapore (X% per year).

Export Prices by Country

In 2022, the average sunflower seed export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price, however, recorded a drastic downturn. The growth pace was the most rapid in 2016 when the average export price increased by X%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (X%), while the prices for the other major destinations experienced a decline.

Sunflower Seed Imports

Imports into Thailand

After three years of growth, overseas purchases of sunflower seed decreased by X% to X tons in 2022. Overall, imports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2021, and then contracted in the following year.

In value terms, sunflower seed imports rose slightly to $X in 2022. In general, imports, however, recorded a buoyant increase. The pace of growth appeared the most rapid in 2020 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, China (X tons) was the main sunflower seed supplier to Thailand, accounting for a X% share of total imports. It was followed by Argentina (X tons), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at X%.

In value terms, China ($X) constituted the largest supplier of sunflower seed to Thailand, comprising X% of total imports. The second position in the ranking was taken by Argentina ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China amounted to X%.

Import Prices by Country

The average sunflower seed import price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was China ($X per ton), while the price for Argentina amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%).

Source: IndexBox Platform

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