Thailand: Salt Market 2024

Salt Market Size in Thailand

The Thai salt market shrank to $X in 2022, with a decrease of X% against the previous year. Overall, the total consumption indicated notable growth 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, consumption decreased by X% against 2019 indices. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Salt Production in Thailand

In value terms, salt production amounted to less than $X in 2022 estimated in export price. Over the period under review, production recorded a relatively flat trend pattern.

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Salt Exports

Exports from Thailand

In 2022, salt exports from Thailand surged to X tons, increasing by X% compared with the previous year's figure. Over the period under review, exports posted a resilient increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, salt exports soared to $X in 2022. Overall, exports enjoyed buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Cambodia (X tons), Vietnam (X tons) and Myanmar (X tons) were the main destinations of salt exports from Thailand, together accounting for X% of total exports.

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

In value terms, the largest markets for salt exported from Thailand were Cambodia ($X), Vietnam ($X) and Papua New Guinea ($X), together accounting for X% of total exports. Myanmar, Malaysia, the Philippines, Marshall Islands, Singapore and Taiwan (Chinese) lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Myanmar, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average salt export price amounted to $X per ton, which is down by X% against the previous year. In general, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Papua New Guinea ($X per ton), while the average price for exports to Marshall Islands ($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.

Salt Imports

Imports into Thailand

In 2022, overseas purchases of salt and pure sodium chloride decreased by X% to X tons, falling for the fourth year in a row after two years of growth. Overall, imports, however, showed a modest increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, salt imports shrank significantly to $X in 2022. Over the period under review, imports, however, continue to indicate a noticeable increase. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of salt to Thailand, accounting for a X% share of total imports. Moreover, salt imports from India exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), more than tenfold. The third position in this ranking was taken by China (X tons), with a X% share.

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

In value terms, India ($X) constituted the largest supplier of salt and pure sodium chloride to Thailand, comprising X% of total imports. The second position in the ranking was taken by New Zealand ($X), with an X% share of total imports. It was followed by Germany, with an X% share.

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

Import Prices by Country

The average salt import price stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the import price, however, recorded a measured expansion. The pace of growth appeared the most rapid in 2019 an increase of X% against the previous year. The import price peaked at $X per ton in 2021, and then dropped rapidly in the following year.

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

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

Source: IndexBox Platform

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