Thailand - Baking Soda - Market Analysis, Forecast, Size, Trends And Insights
Significant Decrease in Baking Soda Price in Thailand: Now at $468 per Ton
Thailand Baking Soda Export Price in June 2023
In June 2023, the baking soda price stood at $468 per ton (FOB, Thailand), with a decrease of -11.1% against the previous month. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in April 2023 an increase of 21% month-to-month. As a result, the export price attained the peak level of $622 per ton. From May 2023 to June 2023, the the average export prices remained at a lower figure.
Average prices varied somewhat for the major external markets. In June 2023, the highest price was recorded for prices to India ($568 per ton) and Malaysia ($563 per ton), while the average price for exports to China ($434 per ton) and Indonesia ($465 per ton) were amongst the lowest.
From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to India (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.
|COUNTRY||Export Price of Baking Soda in Thailand (USD per ton)|
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Thailand Baking Soda Exports
In June 2023, the amount of baking soda exported from Thailand surged to 6.5K tons, jumping by 49% against the previous month's figure. Overall, exports enjoyed pronounced growth. The growth pace was the most rapid in July 2022 with an increase of 69% month-to-month.
In value terms, baking soda exports skyrocketed to $3.1M (IndexBox estimates) in June 2023. In general, total exports indicated a pronounced increase from June 2022 to June 2023: its value increased at an average monthly rate of +4.9% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on June 2023 figures, exports increased by +28.3% against March 2023 indices. The growth pace was the most rapid in July 2022 with an increase of 61% month-to-month. The exports peaked in June 2023.
Thailand Baking Soda Exports by Country
China (3.4K tons) was the main destination for baking soda exports from Thailand, accounting for a 53% share of total exports. Moreover, baking soda exports to China exceeded the volume sent to the second major destination, Indonesia (1.4K tons), twofold. Japan (487 tons) ranked third in terms of total exports with a 7.4% share.
From June 2022 to June 2023, the average monthly growth rate of volume to China stood at +3.7%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Indonesia (+18.5% per month) and Japan (+5.9% per month).
In value terms, China ($1.5M) remains the key foreign market for baking soda exports from Thailand, comprising 49% of total exports. The second position in the ranking was held by Indonesia ($645K), with a 21% share of total exports. It was followed by Vietnam, with a 7.7% share.
From June 2022 to June 2023, the average monthly growth rate of value to China totaled +3.2%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Indonesia (+15.3% per month) and Vietnam (-1.4% per month).
This report provides an in-depth analysis of the baking soda market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
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The Largest Import Supplying Countries
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