Report Update: Apr 1, 2024

Thailand - Bananas - Market Analysis, Forecast, Size, Trends And Insights

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Banana Price in Thailand - 2023

Banana Price in Thailand (FOB) - 2022

The average banana export price stood at $1,131 per ton in 2022, rising by 3.6% against the previous year. In general, the export price saw resilient growth. The most prominent rate of growth was recorded in 2020 when the average export price increased by 33%. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($11,315 per ton), while the average price for exports to Malaysia ($561 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 Vietnam (+36.9%), while the prices for the other major destinations experienced more modest paces of growth.

Banana Price in Thailand (CIF) - 2023

The average banana import price stood at $284 per ton in November 2023, approximately mirroring the previous month. Over the period from November 2022 to November 2023, it increased at an average monthly rate of +1.5%. The growth pace was the most rapid in May 2023 an increase of 9.5% against the previous month. The import price peaked in November 2023.

Average prices varied somewhat amongst the major supplying countries. In November 2023, the country with the highest price was Myanmar ($350 per ton), while the price for Lao People's Democratic Republic amounted to $273 per ton.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Myanmar (+5.6%).

Banana Exports in Thailand

In 2022, the amount of bananas exported from Thailand contracted sharply to 10K tons, dropping by -36.2% against the year before. In general, exports saw a sharp shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 1.8% against the previous year.

In value terms, banana exports fell significantly to $12M in 2022. Over the period under review, exports faced a precipitous decline. The most prominent rate of growth was recorded in 2021 when exports increased by 9.4% against the previous year.

Export of Banana in Thailand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
China	16.7	9.9	9.8	4.8	-34.0%
United States	3.7	2.3	2.4	2.6	-11.1%
Japan	2.2	2.4	3.1	2.5	4.4%
Malaysia	0.1	0.2	N/A	0.2	26.0%
Others	2.0	1.3	2.1	1.4	-11.2%
Total	24.7	15.9	17.4	11.5	-22.5%

Top Export Markets for Banana from Thailand in 2022:

China (6.6K tons)
Japan (2.5K tons)
Malaysia (0.3K tons)
United States (0.2K tons)

Banana Imports in Thailand

In 2022, supplies from abroad of bananas decreased by -29.7% to 24K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2020 when imports increased by 235%. As a result, imports reached the peak of 57K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, banana imports reduced markedly to $5.2M in 2022. In general, imports, however, continue to indicate a prominent increase. The pace of growth was the most pronounced in 2020 with an increase of 235%. As a result, imports reached the peak of $13M. From 2021 to 2022, the growth of imports failed to regain momentum.

Import of Banana in Thailand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Lao People's Democratic Republic	3.7	12.5	7.1	4.7	8.3%
Myanmar	N/A	0.2	0.3	0.4	41.4%
Others	0.1	N/A	0.2	0.1	0.0%
Total	3.8	12.8	7.6	5.2	11.0%

Top Suppliers of Banana to Thailand in 2022:

Lao People's Democratic Republic (21.2K tons)
Myanmar (2.4K tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the banana 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.

Product coverage:

FCL 486 - Bananas

Country coverage:

Thailand

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Thailand
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. COUNTRIES WITH TOP YIELDS
4. TOP EXPORTING COUNTRIES
5. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION, HARVESTED AREA AND YIELD
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Yield And Growth
16. Exports And Growth
17. Export Prices And Growth
18. Market Size And Growth
19. Per Capita Consumption
20. Imports And Growth
21. Import Prices
22. Production, In Physical Terms, 2012–2023
23. Production, In Value Terms, 2012–2023
24. Area Harvested, 2012–2023
25. Yield, 2012–2023
26. Imports, In Physical Terms, 2012–2023
27. Imports, In Value Terms, 2012–2023
28. Imports, In Physical Terms, By Country, 2023
29. Imports, In Physical Terms, By Country, 2012–2023
30. Imports, In Value Terms, By Country, 2012–2023
31. Import Prices, By Country Of Origin, 2012–2023
32. Exports, In Physical Terms, 2012–2023
33. Exports, In Value Terms, 2012–2023
34. Exports, In Physical Terms, By Country, 2023
35. Exports, In Physical Terms, By Country, 2012–2023
36. Exports, In Value Terms, By Country, 2012–2023
37. Export Prices, By Country Of Destination, 2012–2023