Report Update: Apr 1, 2024

Thailand - Rapeseed Oil - Market Analysis, Forecast, Size, Trends and Insights

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Rapeseed Oil Price in Thailand - 2023

Rapeseed Oil Price in Thailand (CIF) - 2023

The average rapeseed oil import price stood at $2,529 per ton in July 2023, surging by 77% against the previous month. Over the period under review, import price indicated a modest expansion from July 2022 to July 2023: its price increased at an average monthly rate of +1.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on July 2023 figures, rapeseed oil import price increased by +77.2% against June 2023 indices. Over the period under review, average import prices attained the peak figure at $2,852 per ton in October 2022; however, from November 2022 to July 2023, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Japan ($3,289 per ton), while the price for Malaysia ($1,922 per ton) was amongst the lowest.

From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by India (+22.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Rapeseed Oil Price in Thailand (FOB) - 2022

In 2022, the average rapeseed oil export price amounted to $1,677 per ton, jumping by 33% against the previous year. Over the period under review, the export price enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2020 an increase of 55% against the previous year. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($15,658 per ton), while the average price for exports to South Korea ($430 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 the Philippines (+24.6%), while the prices for the other major destinations experienced more modest paces of growth.

Rapeseed Oil Imports in Thailand

In 2022, imports of rapeseed oil into Thailand soared to 3.6K tons, jumping by 29% compared with 2021 figures. The total import volume increased at an average annual rate of +8.9% from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, rapeseed oil imports soared to $7.4M in 2022. In general, imports posted significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Import of Rapeseed Oil in Thailand (Million USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Australia	1.4	1.1	2.0	3.5	35.7%
Malaysia	1.0	1.8	1.7	3.1	45.8%
Japan	0.2	0.2	0.3	0.3	14.5%
India	N/A	0.1	0.1	0.1	0.0%
Others	0.4	0.4	0.4	0.3	-9.1%
Total	3.0	3.6	4.4	7.4	35.1%

Top Suppliers of Rapeseed Oil to Thailand in 2022:

Australia (1794.5 tons)
Malaysia (1481.1 tons)
Japan (106.3 tons)
India (92.4 tons)

Rapeseed Oil Exports in Thailand

In 2022, after three years of growth, there was significant decline in overseas shipments of rapeseed oil, when their volume decreased by -79.3% to 309 tons. Overall, exports, however, recorded a buoyant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 196% against the previous year. As a result, the exports reached the peak of 1.5K tons, and then contracted significantly in the following year.

In value terms, rapeseed oil exports dropped markedly to $518K in 2022. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2020 when exports increased by 284% against the previous year.

Export of Rapeseed Oil in Thailand (Thousand USD)
COUNTRY	2019	2020	2021	2022	CAGR, 2019-2022
Philippines	N/A	16.0	414	290	325.7%
Taiwan (Chinese)	N/A	48.5	97.6	100	43.6%
Japan	N/A	N/A	N/A	56.8	0%
Myanmar	28.1	38.3	43.1	23.3	-6.1%
Hong Kong SAR	N/A	121	736	18.9	-60.5%
South Korea	72.9	92.4	130	16.8	-38.7%
Malaysia	3.6	93.4	423	0.1	-69.7%
Indonesia	N/A	54.9	26.9	N/A	-51.0%
Others	24.3	30.8	3.9	11.8	-21.4%
Total	129	495	1,874	518	58.9%

Top Export Markets for Rapeseed Oil from Thailand in 2022:

Malaysia (undefined tons)
Philippines (143.9 tons)
Japan (97.7 tons)
South Korea (39.0 tons)
Myanmar (9.3 tons)
Hong Kong SAR (8.3 tons)
Taiwan (Chinese) (6.4 tons)

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the rapeseed 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 271 - Oil of Rapeseed or Canola oil

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. TOP EXPORTING COUNTRIES
4. 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 VOLUME AND VALUE
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. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023