Thailand: Oil Crops Market 2024

Oil Crops Market Size in Thailand

The Thai oil crops market reduced to $X in 2022, which is down by X% against the previous year. Overall, consumption, however, showed a strong increase. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Oil Crops Production in Thailand

In value terms, oil crops production reduced modestly to $X in 2022 estimated in export price. In general, production, however, showed strong growth. The pace of growth was the most pronounced in 2016 with an increase of X%. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

In 2022, the average yield of oil crops (primary) in Thailand contracted modestly to X tons per ha, waning by X% 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 relatively stable, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when the yield increased by X% against the previous year. The oil crops yield peaked at X tons per ha in 2019; however, from 2020 to 2022, the yield stood 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 harvested area of oil crops (primary) in Thailand amounted to X ha, therefore, remained relatively stable against the previous year. The harvested area increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2017 when the harvested area increased by X% against the previous year. The oil crops harvested area peaked at X ha in 2020; afterwards, it flattened through to 2022.

Oil Crops Exports

Exports from Thailand

For the eleventh consecutive year, Thailand recorded growth in overseas shipments of oil crops (primary), which increased by X% to X tons in 2022. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, oil crops exports skyrocketed to $X in 2022. In general, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the near future.

Exports by Country

China (X tons) was the main destination for oil crops exports from Thailand, accounting for a X% share of total exports. It was followed by the United States (X tons), with a X% share of total exports. Singapore (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual growth rate of volume to China amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Singapore (X% per year).

In value terms, China ($X) remains the key foreign market for oil crops (primary) exports from Thailand, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Singapore, with a X% share.

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

Export Prices by Country

The average oil crops export price stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to China ($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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Crops Imports

Imports into Thailand

In 2022, approx. X tons of oil crops (primary) were imported into Thailand; declining by X% compared with 2021. Over the period under review, imports, however, enjoyed a notable expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, oil crops imports fell to $X in 2022. In general, imports, however, posted a moderate increase. The growth pace was the most rapid in 2020 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

In 2022, Brazil (X tons) constituted the largest supplier of oil crops to Thailand, with a X% share of total imports. Moreover, oil crops imports from Brazil exceeded the figures recorded by the second-largest supplier, the United States (X tons), sixfold. Indonesia (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Brazil totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Indonesia (X% per year).

In value terms, Brazil ($X) constituted the largest supplier of oil crops (primary) to Thailand, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Indonesia (X% per year).

Import Prices by Country

In 2022, the average oil crops import price amounted to $X per ton, picking up by X% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady growth in years to come.

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

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

Source: IndexBox Platform

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