Thailand - Palm Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingThailand's Palm Oil Price Plummets to $1,284 per Ton
Thailand Palm Oil Export Price in July 2023
In July 2023, the palm oil price stood at $1,284 per ton (FOB, Thailand), flattening at the previous month. In general, the export price, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in June 2023 an increase of 27% against the previous month. As a result, the export price attained the peak level of $1,295 per ton, leveling off in the following month.
As there is only one major export destination, the average price level is determined by prices for Myanmar.
From July 2022 to July 2023, the rate of growth in terms of prices for Kenya amounted to -1.0% per month.
| COUNTRY | Export Price of Palm Oil in Thailand (USD per ton) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | |
| Myanmar | 1,558 | 1,425 | 1,363 | 1,201 | 1,301 | 1,362 | 1,421 | 1,304 | 1,300 | 1,307 | 1,333 | 1,300 | 1,278 |
| Kenya | N/A | N/A | 918 | 942 | N/A | N/A | 960 | 871 | N/A | N/A | N/A | N/A | N/A |
| India | 1,218 | 954 | 911 | 817 | 847 | 943 | 984 | 882 | 924 | 951 | 965 | N/A | N/A |
| Average | 1,281 | 1,199 | 985 | 862 | 884 | 969 | 1,022 | 909 | 937 | 966 | 1,019 | 1,295 | 1,284 |
Thailand Palm Oil Export Prices by Type
Average prices varied noticeably for the major types of exported product. In July 2023, the product with the highest price was refined palm oil ($1,286 per ton), while the average price for exports of crude palm oil amounted to $1,098 per ton.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was recorded for the following types: crude palm oil (-0.8%).
Thailand Palm Oil Exports
In July 2023, overseas shipments of palm oil decreased by -10.1% to 6.4K tons, falling for the fourth month in a row after two months of growth. Overall, exports saw a deep reduction. The most prominent rate of growth was recorded in February 2023 when exports increased by 130% month-to-month.
In value terms, palm oil exports declined to $8.2M (IndexBox estimates) in July 2023. In general, exports showed a abrupt slump. The pace of growth appeared the most rapid in February 2023 with an increase of 105% month-to-month.
Thailand Palm Oil Exports by Type
Refined palm oil (6.3K tons) was the largest type of palm oil exported from Thailand, accounting for a 99% share of total exports. It was followed by crude palm oil (65 tons), with a 1% share of total exports.
From July 2022 to July 2023, the average monthly growth rate of the volume of export of refined palm oil amounted to -4.9%.
In value terms, refined palm oil ($8.1M) remains 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 ($71K), with a 0.9% share of total exports.
From July 2022 to July 2023, the average monthly rate of growth in terms of the export volume of refined palm oil totaled -6.5%.
Thailand Palm Oil Exports by Country
Myanmar (5.4K tons) was the main destination for palm oil exports from Thailand, with a 85% share of total exports. Moreover, palm oil exports to Myanmar exceeded the volume sent to the second major destination, China (539 tons), tenfold. Cambodia (281 tons) ranked third in terms of total exports with a 4.4% share.
From July 2022 to July 2023, the average monthly growth rate of volume to Myanmar totaled -5.6%. Exports to the other major destinations recorded the following average monthly rates of exports growth: China (+14.8% per month) and Cambodia (-3.6% per month).
In value terms, Myanmar ($6.9M) remains the key foreign market for palm oil exports from Thailand, comprising 84% of total exports. The second position in the ranking was held by China ($710K), with an 8.7% share of total exports. It was followed by Cambodia, with a 4.6% share.
From July 2022 to July 2023, the average monthly rate of growth in terms of value to Myanmar totaled -7.2%. Exports to the other major destinations recorded the following average monthly rates of exports growth: China (+14.3% per month) and Cambodia (-5.8% per month).
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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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- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- 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
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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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
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- 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, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
