Thailand: Cream Fresh Market 2024

Cream Fresh Market Size in Thailand

The Thai cream fresh market reduced dramatically to $X in 2022, which is down by -87.7% against the previous year. Overall, consumption showed a dramatic curtailment. Cream fresh consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Cream Fresh Production in Thailand

In value terms, cream fresh production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed a mild expansion. The most prominent rate of growth was recorded in 2019 when the production volume increased by 111%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Cream Fresh Exports

Exports from Thailand

Cream fresh exports from Thailand soared to X tons in 2022, jumping by 17% compared with the year before. In general, exports enjoyed a significant increase. The pace of growth was the most pronounced in 2014 with an increase of 101% against the previous year. The exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, cream fresh exports expanded notably to $X in 2022. Over the period under review, exports saw a significant increase. The growth pace was the most rapid in 2016 with an increase of 95%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Cambodia (X tons) was the main destination for cream fresh exports from Thailand, accounting for a 76% share of total exports. Moreover, cream fresh exports to Cambodia exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), fivefold. The third position in this ranking was taken by Myanmar (X tons), with a 5.3% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Cambodia amounted to +35.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+26.0% per year) and Myanmar (+29.0% per year).

In value terms, Cambodia ($X) remains the key foreign market for cream fresh exports from Thailand, comprising 73% of total exports. The second position in the ranking was taken by Lao People's Democratic Republic ($X), with a 16% share of total exports. It was followed by Myanmar, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Cambodia amounted to +31.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+19.1% per year) and Myanmar (+18.1% per year).

Export Prices by Country

In 2022, the average cream fresh export price amounted to $X per ton, shrinking by -5.5% against the previous year. Overall, the export price continues to indicate a perceptible downturn. The most prominent rate of growth was recorded in 2019 when the average export price increased by 34% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the United Arab Emirates ($X per ton) and Myanmar ($X per ton), while the average price for exports to Cambodia ($X per ton) and Lao People's Democratic Republic ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+11.6%), while the prices for the other major destinations experienced a decline.

Cream Fresh Imports

Imports into Thailand

In 2022, imports of cream fresh into Thailand stood at X tons, leveling off at the year before. Overall, imports continue to indicate a resilient increase. The growth pace was the most rapid in 2016 with an increase of 37% against the previous year. Over the period under review, imports hit record highs at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, cream fresh imports totaled $X in 2022. Over the period under review, imports saw resilient growth. The most prominent rate of growth was recorded in 2014 with an increase of 47%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, New Zealand (X tons) constituted the largest supplier of cream fresh to Thailand, accounting for a 71% share of total imports. Moreover, cream fresh imports from New Zealand exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), ninefold. Germany (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from New Zealand stood at +7.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+43.7% per year) and Germany (+47.1% per year).

In value terms, New Zealand ($X) constituted the largest supplier of cream fresh to Thailand, comprising 74% of total imports. The second position in the ranking was held by Germany ($X), with a 6.8% share of total imports. It was followed by the Netherlands, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value from New Zealand amounted to +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+39.2% per year) and the Netherlands (+39.1% per year).

Import Prices by Country

In 2022, the average cream fresh import price amounted to $X per ton, leveling off at the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2017 an increase of 35%. The import price peaked at $X per ton in 2021, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Australia ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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