Thailand: Shelled Hazelnut Market 2022

Shelled Hazelnut Market Size in Thailand

In 2021, the Thai shelled hazelnut market decreased by -0.6% to $X, falling for the third year in a row after two years of growth. In general, consumption showed a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2021, consumption remained at a lower figure.

Shelled Hazelnut Exports

Exports from Thailand

In 2021, after two years of decline, there was significant growth in overseas shipments of shelled hazelnuts, when their volume increased by 36% to X tons. Overall, exports showed a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 1,048% against the previous year. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, shelled hazelnut exports skyrocketed to $X in 2021. In general, exports showed a significant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 626%. As a result, the exports reached the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X kg), the Philippines (X kg) and Vietnam (X kg) were the main destinations of shelled hazelnut exports from Thailand, with a combined 93% share of total exports.

From 2013 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +0.7%), while the other leaders experienced mixed trend patterns.

In value terms, Hong Kong SAR ($X), the Philippines ($X) and Vietnam ($X) constituted the largest markets for shelled hazelnut exported from Thailand worldwide, with a combined 92% share of total exports.

The Philippines, with a CAGR of +1.2%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average shelled hazelnut export price amounted to $X per ton, declining by -4.5% against the previous year. Overall, the export price, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2020 when the average export price increased by 35% against the previous year. As a result, the export price attained the peak level of $X per ton, and then declined slightly in the following year.

Average prices varied somewhat for the major external markets. In 2021, the highest price was recorded for prices to Hong Kong SAR ($X per ton) and Ethiopia ($X per ton), while the average price for exports to the Philippines ($X per ton) and Vietnam ($X per ton) were amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ethiopia (+12.7%), while the prices for the other major destinations experienced more modest paces of growth.

Shelled Hazelnut Imports

Imports into Thailand

In 2021, supplies from abroad of shelled hazelnuts decreased by -4.2% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2017 when imports increased by 265%. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, shelled hazelnut imports amounted to $X in 2021. In general, imports faced a deep contraction. The pace of growth appeared the most rapid in 2018 with an increase of 171%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Turkey (X tons) constituted the largest supplier of shelled hazelnut to Thailand, accounting for a 82% share of total imports. Moreover, shelled hazelnut imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume from Turkey totaled -10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.6% per year) and the United States (-67.0% per year).

In value terms, Turkey ($X) constituted the largest supplier of shelled hazelnut to Thailand, comprising 67% of total imports. The second position in the ranking was taken by China ($X), with a 33% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey totaled -10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.6% per year) and the United States (-67.0% per year).

Import Prices by Country

The average shelled hazelnut import price stood at $X per ton in 2021, picking up by 10% against the previous year. Overall, import price indicated a modest increase from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, shelled hazelnut import price increased by +24.5% against 2019 indices. The most prominent rate of growth was recorded in 2016 an increase of 31%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was China ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Market Intelligence Platform

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