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Thailand - Palm Kernel And Babassu Oil - Market Analysis, Forecast, Size, Trends and Insights
Report Update: Nov 1, 2024

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

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Jun 8, 2023

Palm Kernel Oil Price in Thailand Averages $857 per Ton

Thailand Palm Kernel Oil Export Price in April 2023

In April 2023, the palm kernel oil price amounted to $857 per ton (FOB, Thailand), leveling off at the previous month. Over the period under review, the export price, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in November 2022 an increase of 14% m-o-m. The export price peaked at $2,105 per ton in April 2022; however, from May 2022 to April 2023, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In April 2023, the country with the highest price was India ($894 per ton), while the average price for exports to Malaysia totaled $840 per ton.

From April 2022 to April 2023, the most notable rate of growth in terms of prices was recorded for supplies to China (-2.4%), while the prices for the other major destinations experienced a decline.

COUNTRYExport Price of Palm Kernel Oil in Thailand (USD per ton)
Apr 2022May 2022Jun 2022Jul 2022Aug 2022Sep 2022Oct 2022Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023
IndiaN/AN/A1,554N/AN/AN/AN/AN/A884942840847894
Malaysia2,1061,6921,5921,1681,0421,0299661,100849878834847840
China1,2191,5141,2461,2061,1481,117N/AN/A9991,021N/A934N/A
Average2,1051,6891,5911,1701,0491,0329661,100876903836854857

Thailand Palm Kernel Oil Export Prices by Type

Average prices varied somewhat for the major types of exported product. In April 2023, the product with the highest price was vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified ($1,214 per ton), while the average price for exports of vegetable oils; palm kernel or babassu oil and their fractions, crude, not chemically modified totaled $857 per ton.

From April 2022 to April 2023, the most notable rate of growth in terms of prices was recorded for the following types: vegetable oils; palm kernel or babassu oil and their fractions, crude, not chemically modified (-7.2%).

Thailand Palm Kernel Oil Exports

In April 2023, shipments abroad of palm kernel and babassu oil decreased by -22.5% to 17K tons for the first time since December 2022, thus ending a three-month rising trend. In general, exports recorded a mild decrease. The growth pace was the most rapid in February 2023 with an increase of 68% month-to-month.

In value terms, palm kernel oil exports fell markedly to $14M (IndexBox estimates) in April 2023. Overall, exports showed a abrupt curtailment. The most prominent rate of growth was recorded in January 2023 with an increase of 68% m-o-m.

Thailand Palm Kernel Oil Exports by Type

Vegetable oils; palm kernel or babassu oil and their fractions, crude, not chemically modified (17K tons) was the largest type of palm kernel oil exported from Thailand, with a 99.9% share of total exports. It was followed by vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified (3.6 tons), with less than 0.1% share of total exports.

From April 2022 to April 2023, the average monthly growth rate of the volume of export of vegetable oils; palm kernel or babassu oil and their fractions, crude, not chemically modified amounted to -1.8%.

In value terms, vegetable oils; palm kernel or babassu oil and their fractions, crude, not chemically modified ($14M) remains the largest type of palm kernel oil exported from Thailand, comprising 99.9% of total exports. The second position in the ranking was taken by vegetable oils; palm kernel or babassu oil and their fractions, other than crude, whether or not refined, but not chemically modified ($4.4K), with less than 0.1% share of total exports.

From April 2022 to April 2023, the average monthly growth rate of the export volume of vegetable oils; palm kernel or babassu oil and their fractions, crude, not chemically modified amounted to -8.9%.

Thailand Palm Kernel Oil Exports by Country

Malaysia (12K tons) was the main destination for palm kernel oil exports from Thailand, with a 70% share of total exports. Moreover, palm kernel oil exports to Malaysia exceeded the volume sent to the second major destination, India (5K tons), twofold.

From April 2022 to April 2023, the average monthly growth rate of volume to Malaysia amounted to -4.7%.

In value terms, Malaysia ($9.9M) remains the key foreign market for palm kernel oil exports from Thailand, comprising 68% of total exports. The second position in the ranking was held by India ($4.5M), with a 31% share of total exports.

From April 2022 to April 2023, the average monthly growth rate of value to Malaysia stood at -11.7%.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the palm kernel 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 258 - Oil of Palm Kernel

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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. 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. 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. 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. 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. 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. 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. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 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

  12. 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

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