Price for Food Preparations Not Elsewhere Specified or Included in Thailand - 2024
Contents:
- Price for Food Preparations Not Elsewhere Specified or Included in Thailand (FOB) - 2024
- Price for Food Preparations Not Elsewhere Specified or Included in Thailand (CIF) - 2024
- Exports of Food Preparations Not Elsewhere Specified or Included in Thailand
- Imports of Food Preparations Not Elsewhere Specified or Included in Thailand
Price for Food Preparations Not Elsewhere Specified or Included in Thailand (FOB) - 2024
In January 2024, the average export price for food preparations not elsewhere specified or included amounted to $1,936 per ton, which is down by -5.5% against the previous month. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in September 2023 when the average export price increased by 3.7% m-o-m. The export price peaked at $2,160 per ton in January 2023; however, from February 2023 to January 2024, the export prices remained at a lower figure.
There were significant differences in the average prices for the major foreign markets. In January 2024, the country with the highest price was Myanmar ($3,590 per ton), while the average price for exports to France ($1,302 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (+1.2%), while the prices for the other major destinations experienced more modest paces of growth.
Price for Food Preparations Not Elsewhere Specified or Included in Thailand (CIF) - 2024
In January 2024, the average import price for food preparations not elsewhere specified or included amounted to $4,795 per ton, shrinking by -23.2% against the previous month. In general, the import price saw a noticeable decline. The most prominent rate of growth was recorded in November 2023 an increase of 26% month-to-month. Over the period under review, average import prices hit record highs at $6,245 per ton in December 2023, and then contracted sharply in the following month.
Prices varied noticeably by the country of origin: the country with the highest price was the United States ($25,657 per ton), while the price for Vietnam ($1,220 per ton) was amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was attained by the UK (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Exports of Food Preparations Not Elsewhere Specified or Included in Thailand
In 2022, exports of food preparations not elsewhere specified or included from Thailand rose sharply to 783K tons, picking up by 7.7% on the previous year's figure. The total export volume increased at an average annual rate of +14.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of 44% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.
In value terms, exports of food preparations not elsewhere specified or included totaled $1.5B in 2022. Overall, exports showed a relatively flat trend pattern. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Food Preparations Not Elsewhere Specified or Included in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 214 | 237 | 218 | 212 | -0.3% |
| China | 208 | 196 | 175 | 163 | -7.8% |
| Myanmar | 57.2 | 83.1 | 115 | 99.7 | 20.3% |
| Japan | 86.7 | 75.8 | 83.0 | 93.6 | 2.6% |
| Cambodia | 61.5 | 61.5 | 74.4 | 77.0 | 7.8% |
| Indonesia | 21.6 | 21.0 | 25.8 | 74.4 | 51.0% |
| Vietnam | 34.6 | 42.8 | 61.7 | 62.6 | 21.9% |
| Philippines | 54.6 | 64.7 | 50.9 | 60.1 | 3.3% |
| Australia | 61.0 | 50.3 | 43.7 | 56.4 | -2.6% |
| Taiwan (Chinese) | 129 | 35.7 | 40.7 | 45.8 | -29.2% |
| United Kingdom | 37.2 | 42.0 | 44.3 | 39.2 | 1.8% |
| France | 12.4 | 10.6 | 9.3 | 38.1 | 45.4% |
| Lao People's Democratic Republic | 31.9 | 38.3 | 40.5 | 36.1 | 4.2% |
| Others | 414 | 378 | 363 | 405 | -0.7% |
| Total | 1,424 | 1,337 | 1,345 | 1,463 | 0.9% |
Top Export Markets for Food Preparations Not Elsewhere Specified or Included from Thailand in 2022:
- United States (110.6K tons)
- Japan (97.2K tons)
- China (78.3K tons)
- Cambodia (50.3K tons)
- Indonesia (35.1K tons)
- France (32.6K tons)
- Australia (29.8K tons)
- Myanmar (28.1K tons)
- United Kingdom (27.6K tons)
- Taiwan (Chinese) (24.7K tons)
- Philippines (23.2K tons)
- Lao People's Democratic Republic (23.0K tons)
- Vietnam (22.0K tons)
Imports of Food Preparations Not Elsewhere Specified or Included in Thailand
In 2022, purchases abroad of food preparations not elsewhere specified or included decreased by -3.5% to 160K tons for the first time since 2018, thus ending a three-year rising trend. In general, total imports indicated a prominent expansion from 2019 to 2022: its volume increased at an average annual rate of +16.7% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 60% against the previous year.
In value terms, imports of food preparations not elsewhere specified or included totaled $885M in 2022. The total import value increased at an average annual rate of +12.8% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 when imports increased by 32% against the previous year. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in years to come.
| Import of Food Preparations Not Elsewhere Specified or Included in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Singapore | 166 | 218 | 244 | 269 | 17.5% |
| United States | 182 | 190 | 189 | 167 | -2.8% |
| China | 38.5 | 65.1 | 74.2 | 83.1 | 29.2% |
| Vietnam | 41.5 | 85.8 | 74.5 | 71.0 | 19.6% |
| Malaysia | 35.3 | 37.7 | 51.0 | 66.3 | 23.4% |
| Indonesia | 16.1 | 50.6 | 52.6 | 34.2 | 28.5% |
| United Kingdom | 15.1 | 14.4 | 11.5 | 20.3 | 10.4% |
| Others | 122 | 154 | 186 | 174 | 12.6% |
| Total | 617 | 816 | 883 | 885 | 12.8% |
Top Suppliers of Food Preparations Not Elsewhere Specified or Included to Thailand in 2022:
- Vietnam (50.3K tons)
- China (25.7K tons)
- Malaysia (24.3K tons)
- Singapore (14.1K tons)
- Indonesia (13.8K tons)
- United States (6.6K tons)
- United Kingdom (5.6K tons)
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