Thailand: Overview of the Market for Fish Fats And Oils 2021

Market Size for Fish Fats And Oils in Thailand

For the fourth year in a row, the Thai fish fat and oil market recorded growth in sales value, which increased by X% to $X in 2020. Over the period under review, the total consumption indicated resilient growth from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption increased by +X% against 2016 indices. The pace of growth was the most pronounced in 2011 with an increase of X% year-to-year. Fish fat and oil consumption peaked in 2020 and is likely to see steady growth in years to come.

Production of Fish Fats And Oils in Thailand

In value terms, fish fat and oil production expanded rapidly to $X in 2020 estimated in export prices. In general, production enjoyed strong growth. The most prominent rate of growth was recorded in 2011 when the production volume increased by X% y-o-y. Over the period under review, production reached the maximum level in 2020 and is expected to retain growth in the near future.

Exports of Fish Fats And Oils

Exports from Thailand

In 2020, shipments abroad of fish fats and oils decreased by -X% to X tonnes for the first time since 2017, thus ending a two-year rising trend. Overall, exports, however, posted a noticeable increase. The growth pace was the most rapid in 2010 when exports increased by X% against the previous year. Exports peaked at X tonnes in 2012; however, from 2013 to 2020, exports remained at a lower figure.

In value terms, fish fat and oil exports shrank significantly to $X in 2020. In general, exports, however, enjoyed a prominent expansion. The growth pace was the most rapid in 2010 with an increase of X% year-to-year. Over the period under review, exports reached the maximum at $X in 2019, and then reduced sharply in the following year.

Exports by Country

Japan (X tonnes), Australia (X tonnes) and Malaysia (X tonnes) were the main destinations of fish fat and oil exports from Thailand, together comprising X% of total exports. These countries were followed by Canada, the UK, Iceland, Norway, Germany, Myanmar and Cambodia, which together accounted for a further X 2007 to 2020, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Myanmar (+X% per year), while exports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) remains the key foreign market for fish fat and oil exports from Thailand, comprising X% of total exports. The second position in the ranking was occupied by Australia ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2007 to 2020, the average annual growth rate of value to Japan totaled +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+X% per year) and Germany (+X% per year).

Export Prices by Country

In 2020, the average fish fat and oil export price amounted to $X per tonne, reducing by -X% against the previous year. Overall, the export price, however, showed resilient growth. The pace of growth appeared the most rapid in 2011 when the average export price increased by X% y-o-y. The export price peaked at $X per tonne in 2019, and then reduced in the following year.

There were significant differences in the average prices for the major export markets. In 2020, the country with the highest price was Germany ($X per tonne), while the average price for exports to Cambodia ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Australia, while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fats And Oils

Imports into Thailand

In 2020, supplies from abroad of fish fats and oils decreased by -X% to X tonnes, falling for the second year in a row after four years of growth. In general, imports saw a perceptible shrinkage. The pace of growth was the most pronounced in 2015 when imports increased by X% y-o-y. Over the period under review, imports reached the peak figure at X tonnes in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

In value terms, fish fat and oil imports dropped notably to $X in 2020. Overall, imports showed a deep reduction. The most prominent rate of growth was recorded in 2011 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2020, imports failed to regain the momentum.

Imports by Country

Chile (X tonnes), India (X tonnes) and Norway (X tonnes) were the main suppliers of fish fat and oil imports to Thailand, with a combined X% share of total imports. These countries were followed by South Korea, New Zealand, Australia and China, which together accounted for a further X 2007 to 2020, the biggest increases were in China (+X% per year), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X), India ($X) and South Korea ($X) appeared to be the largest fish fat and oil suppliers to Thailand, with a combined X% share of total imports. Australia, New Zealand, Norway and China lagged somewhat behind, together comprising a further X the main suppliers, China recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fish fat and oil import price stood at $X per tonne in 2020, remaining relatively unchanged against the previous year. Overall, the import price showed a pronounced setback. The growth pace was the most rapid in 2013 an increase of X% y-o-y. Over the period under review, average import prices hit record highs at $X per tonne in 2007; however, from 2008 to 2020, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was Australia ($X per tonne), while the price for India ($X per tonne) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Australia, while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for fish fats and oils in the world?

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The countries with the highest volumes of fish fat and oil consumption in 2020 were China (711K tonnes), the U.S. (356K tonnes) and India (287K tonnes), with a combined 28% share of global consumption. These countries were followed by Norway, Japan, Russia, Brazil, Mexico, Pakistan, Indonesia, Bangladesh, Nigeria and France, which together accounted for a further 28%.

What are the largest producers of fish fats and oils in the world?

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The countries with the highest volumes of fish fat and oil production in 2020 were China (665K tonnes), the U.S. (390K tonnes) and India (287K tonnes), with a combined 29% share of global production. Norway, Japan, Russia, Brazil, Mexico, Pakistan, Bangladesh, Indonesia, Nigeria and France lagged somewhat behind, together accounting for a further 28%.

What are the leading suppliers of fish fats and oils to Thailand?

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In value terms, the largest fish fat and oil suppliers to Thailand were Chile ($1.1M), India ($579K) and South Korea ($452K), together comprising 52% of total imports. Australia, New Zealand, Norway and China lagged somewhat behind, together comprising a further 29%.

What are the leading importers of fish fats and oils from Thailand?

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In value terms, Japan ($5.5M) remains the key foreign market for fish fat and oil exports from Thailand, comprising 47% of total exports. The second position in the ranking was occupied by Australia ($1.9M), with a 17% share of total exports. It was followed by Germany, with a 8.1% share.

What is the average export price for fish fats and oils in Thailand?

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In 2020, the average fish fat and oil export price amounted to $4,993 per tonne, falling by -6.7% against the previous year.

What is the average import price for fish fats and oils in Thailand?

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In 2020, the average fish fat and oil import price amounted to $1,583 per tonne, remaining constant against the previous year.