Thailand - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingThailand Sees Drastic Drop in January 2024 Export Revenue to $9.5M
Thailand Palm Oil Exports
Palm oil exports from Thailand shrank sharply to 7.4K tons in January 2024, with a decrease of -71.5% compared with the month before. In general, exports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in September 2023 with an increase of 1,425% m-o-m.
In value terms, palm oil exports fell markedly to $9.5M (IndexBox estimates) in January 2024. Over the period under review, exports showed a abrupt decline. The pace of growth appeared the most rapid in September 2023 with an increase of 995% against the previous month.
| COUNTRY | Export Value of Palm Oil in Thailand (million USD) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | Nov 2023 | Dec 2023 | Jan 2024 | |
| Myanmar | 6.7 | 9.5 | 9.5 | 6.1 | 7.5 | 7.6 | 6.9 | 7.4 | 11.6 | 14.0 | 12.9 | 6.7 | 7.0 |
| Kenya | 9.6 | 7.4 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| India | 39.4 | 98.1 | 197 | 123 | 37.0 | N/A | N/A | N/A | 87.3 | 109 | 4.2 | 15.8 | N/A |
| Others | 1.5 | 1.8 | 1.4 | 1.2 | 1.9 | 1.6 | 1.3 | 1.8 | 2.0 | 2.2 | 2.5 | 2.3 | 2.5 |
| Total | 57.1 | 117 | 208 | 130 | 46.4 | 9.2 | 8.2 | 9.2 | 101 | 125 | 19.6 | 24.8 | 9.5 |
Exports by Country
Myanmar (5.4K tons) was the main destination for palm oil exports from Thailand, accounting for a approximately 73% share of total exports.
From January 2023 to January 2024, the average monthly growth rate of volume to Myanmar totaled +1.2%.
In value terms, Myanmar ($7M) emerged as the key foreign market for palm oil exports from Thailand.
From January 2023 to January 2024, the average monthly growth rate of value to Myanmar was relatively modest.
Exports by Type
Refined palm oil (7.3K tons) was the largest type of palm oil exported from Thailand, with a 98% share of total exports. It was followed by crude palm oil (160 tons), with a 2.2% share of total exports.
From January 2023 to January 2024, the average monthly rate of growth in terms of the volume of export of refined palm oil stood at +2.1%.
In value terms, refined palm oil ($9.4M) emerged as the largest type of palm oil exported from Thailand, comprising 99% of total exports. The second position in the ranking was held by crude palm oil ($140K), with a 1.5% share of total exports.
From January 2023 to January 2024, the average monthly growth rate of the export volume of refined palm oil stood at +1.4%.
Export Prices by Country
In January 2024, the palm oil price amounted to $1,283 per ton (FOB, Thailand), with an increase of 35% against the previous month. Over the last twelve months, it increased at an average monthly rate of +1.9%. Over the period under review, the average export prices attained the maximum at $1,295 per ton in June 2023; afterwards, it flattened through to January 2024.
Average prices varied noticeably for the major overseas markets. In January 2024, the highest price was recorded for prices to Cambodia ($1,358 per ton) and China ($1,326 per ton), while the average price for exports to Lao People's Democratic Republic ($1,153 per ton) and Myanmar ($1,281 per ton) were amongst the lowest.
From January 2023 to January 2024, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (+0.4%), while the prices for the other major destinations experienced a decline.
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
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
