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Thailand - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Thailand: Palm Oil Market 2024

Palm Oil Market Size in Thailand

In 2022, the Thai palm oil market decreased by X% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption continues to indicate a slight decline. Palm oil consumption peaked at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Palm Oil Production in Thailand

In value terms, palm oil production reached $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, production attained the peak level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

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Palm Oil Exports

Exports from Thailand

In 2022, shipments abroad of palm oil increased by X% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports saw a strong increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, palm oil exports soared to $X in 2022. In general, exports posted prominent growth. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in years to come.

Exports by Country

India (X tons) was the main destination for palm oil exports from Thailand, with a X% share of total exports. Moreover, palm oil exports to India exceeded the volume sent to the second major destination, Myanmar (X tons), tenfold. Kenya (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (X% per year) and Kenya (X% per year).

In value terms, India ($X) remains the key foreign market for palm oil exports from Thailand, comprising X% of total exports. The second position in the ranking was held by Myanmar ($X), with a X% share of total exports. It was followed by Kenya, with a X% share.

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

Export Prices by Country

In 2022, the average palm oil export price amounted to $X per ton, picking up by X% against the previous year. In general, export price indicated a temperate increase 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, palm oil export price increased by X% against 2019 indices. The growth pace was the most rapid in 2021 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Cambodia ($X per ton), while the average price for exports to Germany ($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 Kenya (X%), while the prices for the other major destinations experienced more modest paces of growth.

Palm Oil Imports

Imports into Thailand

In 2022, after two years of decline, there was significant growth in purchases abroad of palm oil, when their volume increased by X% to X tons. Overall, imports, however, saw a dramatic slump. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, palm oil imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a precipitous decline. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) was the main palm oil supplier to Thailand, with a approx. X% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Malaysia totaled X%.

In value terms, Malaysia ($X) constituted the largest supplier of palm oil to Thailand.

From 2012 to 2022, the average annual growth rate of value from Malaysia stood at X%.

Import Prices by Country

The average palm oil import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price enjoyed notable growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major supplying country, the average price level is determined by prices for Malaysia.

From 2012 to 2022, the rate of growth in terms of prices for Malaysia amounted to X% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for palm oil in the world?

Indonesia constituted the country with the largest volume of palm oil consumption, comprising approx. 26% of total volume. Moreover, palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, India, twofold. Malaysia ranked third in terms of total consumption with an 8.7% share.

What are the largest producers of palm oil in the world?

Indonesia constituted the country with the largest volume of palm oil production, accounting for 57% of total volume. Moreover, palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. Thailand ranked third in terms of total production with a 3.5% share.

What are the leading suppliers of palm oil to Thailand?

In value terms, Malaysia constituted the largest supplier of palm oil to Thailand.

What are the leading importers of palm oil from Thailand?

In value terms, India remains the key foreign market for palm oil exports from Thailand, comprising 85% of total exports. The second position in the ranking was taken by Myanmar, with a 10% share of total exports. It was followed by Kenya, with a 1.3% share.

What is the average export price for palm oil in Thailand?

In 2022, the average palm oil export price amounted to $1,304 per ton, growing by 13% against the previous year.

What is the average import price for palm oil in Thailand?

In 2022, the average palm oil import price amounted to $1,420 per ton, surging by 67% against the previous year.

This report provides an in-depth analysis of the palm oil market in Thailand. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

FCL 257 - Oil of palm

Country coverage:

Thailand

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Thailand
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023