Thailand: Groundnuts Market 2024

Groundnuts Market Size in Thailand

After five years of decline, the Thai groundnuts market increased by X% to $X in 2022. Overall, consumption, however, saw a slight setback. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Groundnuts Production in Thailand

In value terms, groundnuts production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate significant growth. The most prominent rate of growth was recorded in 2013 when the production volume increased by X%. Groundnuts production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

The average yield of ground-nut (in-shell) in Thailand surged to X tons per ha in 2022, growing by X% against the previous year's figure. Over the period under review, the yield, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when the yield increased by X% against the previous year. As a result, the yield reached the peak level of X tons per ha. From 2019 to 2022, the growth of the average groundnuts yield remained at a somewhat lower figure. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of ground-nut (in-shell) production in Thailand reduced notably to X ha, waning by X% against the year before. In general, the harvested area continues to indicate a drastic downturn. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The groundnuts harvested area peaked at X ha in 2017; however, from 2018 to 2022, the harvested area remained at a lower figure.

Groundnuts Exports

Exports from Thailand

In 2022, shipments abroad of ground-nut (in-shell) increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports showed a prominent expansion. The growth pace was the most rapid in 2016 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, groundnuts exports reduced remarkably to $X in 2022. Over the period under review, exports posted significant growth. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Vietnam (X tons), Malaysia (X tons) and the United States (X tons) were the main destinations of groundnuts exports from Thailand, with a combined X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Vietnam (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) remains the key foreign market for ground-nut (in-shell) exports from Thailand, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Vietnam, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Malaysia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Vietnam (X% per year).

Export Prices by Country

The average groundnuts export price stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price, however, recorded a strong expansion. The growth pace was the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

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 Lao People's Democratic Republic ($X per ton), while the average price for exports to Vietnam ($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 Malaysia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Groundnuts Imports

Imports into Thailand

In 2022, approx. X tons of ground-nut (in-shell) were imported into Thailand; with a decrease of X% against the previous year's figure. Overall, total imports indicated a modest expansion from 2012 to 2022: its volume 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, imports increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, groundnuts imports contracted to $X in 2022. In general, imports, however, continue to indicate mild growth. The growth pace was the most rapid in 2016 with an increase of X%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Lao People's Democratic Republic (X tons), Myanmar (X tons) and China (X tons) were the main suppliers of groundnuts imports to Thailand, with a combined X% share of total imports.

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

In value terms, the largest groundnuts suppliers to Thailand were Myanmar ($X), Lao People's Democratic Republic ($X) and China ($X), with a combined X% share of total imports.

Myanmar, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average groundnuts import price amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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