Thailand - Refined Palm Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingRefined Palm Oil Price in Thailand Grows 2%, Averaging $1,306 per Ton
Thailand Refined Palm Oil Export Price in April 2023
In April 2023, the refined palm oil price amounted to $1,306 per ton (FOB, Thailand), increasing by 1.5% against the previous month. Overall, the export price, however, recorded a pronounced contraction. The most prominent rate of growth was recorded in December 2022 when the average export price increased by 8.6% against the previous month. Over the period under review, the average export prices reached the maximum at $1,958 per ton in May 2022; however, from June 2022 to April 2023, the export prices stood at a somewhat lower figure.
There were significant differences in the average prices for the major export markets. In April 2023, the country with the highest price was Cambodia ($1,457 per ton), while the average price for exports to Pakistan ($736 per ton) was amongst the lowest.
From April 2022 to April 2023, the most notable rate of growth in terms of prices was recorded for supplies to Lao People's Democratic Republic (-2.5%), while the prices for the other major destinations experienced a decline.
| COUNTRY | Export Price of Refined Palm Oil in Thailand (USD per ton) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | |
| Cambodia | 2,093 | 2,149 | 2,131 | 1,763 | 1,599 | 1,429 | 1,333 | 1,401 | 1,494 | 1,554 | 1,487 | 1,434 | 1,457 |
| China | 2,018 | 1,858 | 1,594 | 1,388 | 1,451 | 1,269 | 1,146 | 1,189 | 1,375 | N/A | 1,336 | 1,220 | 1,343 |
| Myanmar | 1,935 | 1,965 | 1,924 | 1,558 | 1,425 | 1,363 | 1,201 | 1,301 | 1,362 | 1,421 | 1,304 | 1,300 | 1,307 |
| Lao People's Democratic Republic | 1,759 | 1,777 | 1,745 | 1,550 | 1,312 | 1,247 | 1,128 | 1,135 | 1,142 | 1,180 | 1,029 | 961 | 1,295 |
| Pakistan | N/A | N/A | N/A | N/A | N/A | 963 | 751 | 811 | N/A | N/A | N/A | 494 | 736 |
| Average | 1,927 | 1,958 | 1,915 | 1,565 | 1,428 | 1,359 | 1,180 | 1,251 | 1,358 | 1,407 | 1,301 | 1,286 | 1,306 |
Thailand Refined Palm Oil Exports
In April 2023, shipments abroad of refined palm oil decreased by -34.5% to 5.4K tons, falling for the second month in a row after two months of growth. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in August 2022 when exports increased by 124% against the previous month. As a result, the exports attained the peak of 26K tons. From September 2022 to April 2023, the growth of the exports remained at a somewhat lower figure.
In value terms, refined palm oil exports reduced rapidly to $7.1M (IndexBox estimates) in April 2023. Overall, exports showed a pronounced shrinkage. The most prominent rate of growth was recorded in August 2022 when exports increased by 104% month-to-month. As a result, the exports reached the peak of $37M. From September 2022 to April 2023, the growth of the exports remained at a somewhat lower figure.
Thailand Refined Palm Oil Exports by Country
Myanmar (4.6K tons) was the main destination for refined palm oil exports from Thailand, accounting for a 86% share of total exports. Moreover, refined palm oil exports to Myanmar exceeded the volume sent to the second major destination, China (241 tons), more than tenfold. Cambodia (236 tons) ranked third in terms of total exports with a 4.4% share.
From April 2022 to April 2023, the average monthly growth rate of volume to Myanmar was relatively modest. Exports to the other major destinations recorded the following average monthly rates of exports growth: China (-5.5% per month) and Cambodia (+2.6% per month).
In value terms, Myanmar ($6.1M) remains the key foreign market for refined palm oil exports from Thailand, comprising 86% of total exports. The second position in the ranking was taken by Cambodia ($343K), with a 4.9% share of total exports. It was followed by China, with a 4.6% share.
From April 2022 to April 2023, the average monthly growth rate of value to Myanmar stood at -3.0%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Cambodia (-0.5% per month) and China (-8.6% per month).
This report provides an in-depth analysis of the refined 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:
- Prodcom 10415700 - Refined palm oil and its fractions (excluding chemically modified)
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
