Thailand: Beef Market 2024

Beef Market Size in Thailand

The Thai beef market expanded modestly to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Beef consumption peaked in 2022 and is likely to continue growth in the near future.

Beef Production in Thailand

In value terms, beef production dropped modestly to $X in 2022 estimated in export price. Overall, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

In 2022, the average beef yield in Thailand totaled X kg per head, remaining relatively unchanged against the previous year's figure. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2015 when the yield increased by X%. The beef yield peaked at X kg per head in 2019; however, from 2020 to 2022, the yield remained at a lower figure.

In 2022, approx. X heads of animals slaughtered for beef production in Thailand; remaining stable against the previous year. In general, the number of producing animals, however, recorded a slight reduction. The pace of growth was the most pronounced in 2020 with an increase of X%. The number of animals slaughtered for beef production peaked at X heads in 2012; however, from 2013 to 2022, producing animals failed to regain momentum.

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Beef Exports

Exports from Thailand

In 2022, shipments abroad of beef (cattle meat) decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, exports continue to indicate a sharp slump. The pace of growth appeared the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, beef exports declined sharply to $X in 2022. In general, exports faced a sharp slump. The pace of growth was the most pronounced in 2018 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Cambodia (X tons) was the main destination for beef exports from Thailand, accounting for a X% share of total exports. Moreover, beef exports to Cambodia exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X kg), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cambodia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (X% per year) and Estonia (X% per year).

In value terms, Cambodia ($X) emerged as the key foreign market for beef (cattle meat) exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Cambodia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (X% per year) and Estonia (X% per year).

Export Prices by Country

In 2022, the average beef export price amounted to $X per ton, rising by X% against the previous year. In general, the export price continues to indicate a resilient increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Estonia ($X 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 Lao People's Democratic Republic (X%).

Beef Imports

Imports into Thailand

In 2022, beef imports into Thailand surged to X tons, with an increase of X% against the previous year. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of X%. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, beef imports skyrocketed to $X in 2022. Overall, imports continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. Imports peaked in 2022 and are likely to see steady growth in years to come.

Imports by Country

Australia (X tons), Argentina (X tons) and New Zealand (X tons) were the main suppliers of beef imports to Thailand, together accounting for X% of total imports. Brazil, the United States and Japan lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Australia ($X) constituted the largest supplier of beef (cattle meat) to Thailand, comprising X% of total imports. The second position in the ranking was held by Japan ($X), with a X% share of total imports. It was followed by New Zealand, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Australia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and New Zealand (X% per year).

Import Prices by Country

In 2022, the average beef import price amounted to $X per ton, increasing by X% against the previous year. Overall, import price indicated resilient growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, beef import price increased by X% against 2020 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Japan ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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