Thailand - Rapeseed Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingThailand's Rapeseed Oil Price Decreases to $1,696 per Ton
Thailand Rapeseed Oil Import Price in February 2023
In February 2023, the rapeseed oil price amounted to $1,696 per ton (CIF, Thailand), reducing by -12.9% against the previous month. Overall, the import price showed a pronounced contraction. The pace of growth was the most pronounced in October 2022 when the average import price increased by 32% m-o-m. As a result, import price attained the peak level of $3,284 per ton. From November 2022 to February 2023, the average import prices remained at a lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Japan ($3,707 per ton), while the price for India ($325 per ton) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by India (+2.0%), while the prices for the other major suppliers experienced mixed trend patterns.
| COUNTRY | Feb 2022 | Mar 2022 | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Import Price of Rapeseed Oil in Thailand (USD per ton) | |||||||||||||
| Japan | 3,267 | 3,277 | 3,826 | 3,302 | 3,554 | 2,999 | 3,846 | 3,936 | 3,557 | 3,106 | 3,921 | 4,051 | 3,707 |
| Malaysia | 3,224 | 1,963 | 2,215 | 2,397 | 2,293 | 2,503 | 2,280 | 2,413 | 2,512 | N/A | 1,967 | 1,936 | 1,772 |
| India | 256 | 641 | 3,780 | 3,515 | N/A | N/A | 280 | 2,135 | 274 | 826 | 478 | 1,083 | 325 |
| Australia | 3,093 | 1,925 | 1,954 | 2,026 | 2,032 | 2,125 | 2,387 | 2,507 | 5,217 | N/A | 5,058 | 2,030 | N/A |
| Average | 2,746 | 1,939 | 2,165 | 2,249 | 2,241 | 2,300 | 2,380 | 2,497 | 3,284 | 1,825 | 1,965 | 1,947 | 1,696 |
Thailand Rapeseed Oil Import Prices by Type
There were significant differences in the average prices amongst the major supplied products. In February 2023, the product with the highest price was vegetable oils; low erucic acid rape or colza oil and its fractions, crude ($17,003 per ton), while the price for vegetable oils; excluding low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified ($802 per ton) was amongst the lowest.
From February 2022 to February 2023, the most notable rate of growth in terms of prices was attained by vegetable oils; low erucic acid rape or colza oil and its fractions, crude (+22.5%), while the prices for the other products experienced a decline.
Thailand Rapeseed Oil Imports
In February 2023, supplies from abroad of rapeseed oil decreased by -45.3% to 246 tons for the first time since November 2022, thus ending a two-month rising trend. Over the period under review, imports, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in March 2022 with an increase of 684% against the previous month.
In value terms, rapeseed oil imports dropped sharply to $418K (IndexBox estimates) in February 2023. In general, imports, however, saw a buoyant increase. The growth pace was the most rapid in March 2022 when imports increased by 453% against the previous month.
Thailand Rapeseed Oil Imports by Type
In February 2023, vegetable oils; low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified (215 tons) constituted the largest type of rapeseed oil supplied to Thailand, accounting for a 87% share of total imports. Moreover, vegetable oils; low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified exceeded the figures recorded for the second-largest type, vegetable oils; excluding low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified (30 tons), sevenfold. Vegetable oils; excluding low erucic acid rape or colza oil and its fractions, crude (1.3 tons) ranked third in terms of total imports with a 0.5% share.
From February 2022 to February 2023, the average monthly growth rate of the volume of import of vegetable oils; low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified totaled +15.1%. With regard to the other supplied products, the following average monthly rates of growth were recorded: vegetable oils; excluding low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified (+6.8% per month) and vegetable oils; excluding low erucic acid rape or colza oil and its fractions, crude (+28.0% per month).
In value terms, vegetable oils; low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified ($391K) constituted the largest type of rapeseed oil supplied to Thailand, comprising 94% of total imports. The second position in the ranking was taken by vegetable oils; excluding low erucic acid rape or colza oil and its fractions, other than crude, but not chemically modified ($24K), with a 5.8% share of total imports. It was followed by vegetable oils; excluding low erucic acid rape or colza oil and its fractions, crude, with a 0.6% share.
Thailand Rapeseed Oil Imports by Country
In February 2023, Malaysia (208 tons) constituted the largest supplier of rapeseed oil to Thailand, with a 84% share of total imports. Moreover, rapeseed oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, India (28 tons), eightfold.
From February 2022 to February 2023, the average monthly rate of growth in terms of volume from Malaysia stood at +24.4%. The remaining supplying countries recorded the following average monthly rates of imports growth: India (+9.9% per month) and Japan (+0.4% per month).
In value terms, Malaysia ($368K) constituted the largest supplier of rapeseed oil to Thailand, comprising 88% of total imports. The second position in the ranking was held by Japan ($40K), with a 9.6% share of total imports.
From February 2022 to February 2023, the average monthly rate of growth in terms of value from Malaysia stood at +18.3%. The remaining supplying countries recorded the following average monthly rates of imports growth: Japan (+1.5% per month) and India (+12.2% per month).
This report provides an in-depth analysis of the rapeseed 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 271 - Oil of Rapeseed or Canola oil
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
