Thailand: Apricot Market 2022

Apricot Market Size in Thailand

In 2021, the Thai apricot market increased by X% to $X, rising for the second consecutive year after five years of decline. In general, consumption, however, recorded a precipitous slump. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Apricot Exports

Exports from Thailand

In 2021, the amount of apricots exported from Thailand amounted to X kg, stabilizing at 2020. Over the period under review, exports posted a tangible increase. The pace of growth was the most pronounced in 2019 when exports increased by X% y-o-y. Over the period under review, the exports hit record highs at X tonnes in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, apricot exports stood at $X in 2021. Overall, exports posted a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X% year-to-year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

India (X kg) was the main destination for apricot exports from Thailand, with a X% share of total exports. Moreover, apricot exports to India exceeded the volume sent to the second major destination, Ethiopia (X kg), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to India amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (+X% per year) and Maldives (+X% per year).

In value terms, the largest markets for apricot exported from Thailand were Ethiopia ($X), India ($X) and Maldives ($X), with a combined X% share of total exports.

India, with a CAGR of +X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average apricot export price amounted to $X per tonne, approximately mirroring the previous year. In general, the export price showed pronounced growth. The pace of growth appeared the most rapid in 2019 when the average export price increased by X% year-to-year. Over the period under review, the average export prices attained the maximum in 2021 and is likely to continue growth in the near future.

Prices varied noticeably by the country of destination: the country with the highest price was Ethiopia ($X per tonne), while the average price for exports to India ($X per tonne) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ethiopia (-X%), while the prices for the other major destinations experienced a decline.

Apricot Imports

Imports into Thailand

In 2021, overseas purchases of apricots were finally on the rise to reach X tonnes after six years of decline. In general, imports, however, continue to indicate a sharp descent. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of X tonnes. From 2015 to 2021, the growth imports failed to regain momentum.

In value terms, apricot imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a significant decline. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X tonnes) and Malaysia (X tonnes) were the main suppliers of apricot imports to Thailand.

From 2012 to 2021, the biggest increases were in Malaysia (+X value terms, the United States ($X) constituted the largest supplier of apricot to Thailand, comprising X% of total imports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at -X%.

Import Prices by Country

The average apricot import price stood at $X per tonne in 2021, falling by -X% against the previous year. Overall, the import price saw a deep setback. The most prominent rate of growth was recorded in 2015 an increase of X% y-o-y. The import price peaked at $X per tonne in 2016; however, from 2017 to 2021, import prices failed to regain momentum.

Prices varied noticeably by the country of origin: the country with the highest price was the United States ($X per tonne), while the price for Malaysia totaled $X per tonne.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Malaysia (-X%).

Source: IndexBox Platform