Thailand - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingPalm Oil Price in Thailand - 2023
Contents:
- Palm Oil Price in Thailand (FOB) - 2023
- Palm Oil Price in Thailand (CIF) - 2022
- Palm Oil Exports in Thailand
- Palm Oil Imports in Thailand
Palm Oil Price in Thailand (FOB) - 2023
In July 2023, the average palm oil export price amounted to $1,284 per ton, approximately mirroring the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in June 2023 an increase of 27% m-o-m. As a result, the export price attained the peak level of $1,295 per ton, leveling off in the following month.
Average prices varied noticeably for the major overseas markets. In July 2023, the countries with the highest prices were Cambodia ($1,329 per ton) and China ($1,318 per ton), while the average price for exports to Lao People's Democratic Republic ($1,272 per ton) and Myanmar ($1,278 per ton) were amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (-0.4%), while the prices for the other major destinations experienced a decline.
Palm Oil Price in Thailand (CIF) - 2022
In 2022, the average palm oil import price amounted to $1,420 per ton, rising by 67% against the previous year. Overall, the import price saw a noticeable expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for Malaysia.
From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to +3.6% per year.
Palm Oil Exports in Thailand
In 2022, exports of palm oil from Thailand skyrocketed to 987K tons, picking up by 58% on the previous year's figure. Over the period under review, exports recorded significant growth. The pace of growth was the most pronounced in 2021 when exports increased by 184%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.
In value terms, palm oil exports skyrocketed to $1.3B in 2022. In general, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of 358%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.
| Export of Palm Oil in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| India | 88.8 | 105 | 616 | 1,090 | 130.7% |
| Myanmar | 2.0 | 32.5 | 47.1 | 129 | 301.0% |
| Kenya | 13.2 | 7.9 | 40.7 | 17.2 | 9.2% |
| Cambodia | 19.2 | 5.5 | 5.4 | 9.6 | -20.6% |
| Others | 23.7 | 6.3 | 10.1 | 40.9 | 19.9% |
| Total | 147 | 157 | 719 | 1,288 | 106.2% |
Top Export Markets for Palm Oil from Thailand in 2022:
- India (839.2K tons)
- Myanmar (85.5K tons)
- Kenya (18.5K tons)
- Cambodia (6.0K tons)
Palm Oil Imports in Thailand
In 2022, overseas purchases of palm oil were finally on the rise to reach 530 tons after two years of decline. Overall, imports, however, showed a significant decline.
In value terms, palm oil imports surged to $752K in 2022. Over the period under review, imports, however, continue to indicate a sharp shrinkage.
| Import of Palm Oil in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Malaysia | 1,881 | 1,899 | 261 | 752 | -26.3% |
| Indonesia | 55.9 | 180 | 103 | N/A | 35.7% |
| Others | 10.7 | 0.2 | N/A | 0.1 | -78.9% |
| Total | 1,947 | 2,079 | 363 | 752 | -27.2% |
Top Suppliers of Palm Oil to Thailand in 2022:
- Malaysia (529.6 tons)
This report provides an in-depth analysis of the palm oil 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 257 - Oil of palm
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
-
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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The most prominent rate of growth was recorded in September 2023 with an increase of 1,425% m-o-m. In value terms, Palm Oil exports fell markedly to $9.5M in January 2024.
445
In July 2023, Palm Oil price remained the same at $1,284 per ton (FOB, Thailand), compared to the previous month.
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