Report Update Nov 1, 2024

Thailand - Crude Groundnut Oil - Market Analysis, Forecast, Size, Trends and Insights

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Thailand: Crude Groundnut Oil Market 2024

Crude Groundnut Oil Market Size in Thailand

The Thai crude groundnut oil market contracted to $X in 2022, shrinking by -5.7% against the previous year. Overall, consumption showed a abrupt shrinkage. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Crude Groundnut Oil Production in Thailand

In value terms, crude groundnut oil production contracted to $X in 2022 estimated in export price. Over the period under review, production recorded a deep slump. The pace of growth was the most pronounced in 2015 with an increase of 36%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Crude Groundnut Oil Exports

Exports from Thailand

In 2022, shipments abroad of crude groundnut oil was finally on the rise to reach X kg after two years of decline. Over the period under review, exports, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2018 when exports increased by 26,700% against the previous year. The exports peaked at X kg in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, crude groundnut oil exports skyrocketed to $X in 2022. In general, exports showed perceptible growth. The pace of growth appeared the most rapid in 2018 with an increase of 49,067%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Hong Kong SAR (X kg), Colombia (X kg) and Singapore (X kg) were the main destinations of crude groundnut oil exports from Thailand, together accounting for 99% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Hong Kong SAR (with a CAGR of +40.5%), while the other leaders experienced mixed trend patterns.

In value terms, Hong Kong SAR ($X) emerged as the key foreign market for crude groundnut oil exports from Thailand, comprising 74% of total exports. The second position in the ranking was held by Colombia ($X), with an 18% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Hong Kong SAR amounted to +106.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-13.6% per year) and Singapore (+14.8% per year).

Export Prices by Country

In 2022, the average crude groundnut oil export price amounted to $X per ton, surging by 171% against the previous year. Overall, the export price enjoyed a prominent expansion. The growth pace was the most rapid in 2021 an increase of 1,474%. The export price peaked in 2022 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+46.7%), while the prices for the other major destinations experienced mixed trend patterns.

Crude Groundnut Oil Imports

Imports into Thailand

In 2022, the amount of crude groundnut oil imported into Thailand declined rapidly to X kg, which is down by -50% compared with the previous year's figure. In general, imports continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2017 when imports increased by 656%. As a result, imports reached the peak of X tons. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, crude groundnut oil imports contracted significantly to $X in 2022. Over the period under review, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2017 when imports increased by 114% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Brazil (X kg) was the main crude groundnut oil supplier to Thailand, accounting for a approx. 100% share of total imports.

From 2013 to 2022, the average annual rate of growth in terms of volume from Brazil amounted to -70.2%.

In value terms, Brazil ($X) constituted the largest supplier of crude groundnut oil to Thailand.

From 2013 to 2022, the average annual growth rate of value from Brazil amounted to -44.6%.

Import Prices by Country

The average crude groundnut oil import price stood at $X per ton in 2022, flattening at the previous year. Over the period under review, the import price, however, continues to indicate a significant expansion. The pace of growth was the most pronounced in 2018 when the average import price increased by 86% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2021, and then declined slightly in the following year.

As there is only one major supplying country, the average price level is determined by prices for Brazil.

From 2013 to 2022, the rate of growth in terms of prices for Brazil amounted to +85.6% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude groundnut oil in the world?

China constituted the country with the largest volume of crude groundnut oil consumption, comprising approx. 46% of total volume. Moreover, crude groundnut oil consumption in China exceeded the figures recorded by the second-largest consumer, Nigeria, sixfold. The third position in this ranking was occupied by India, with a 5.2% share.

What are the largest producers of crude groundnut oil in the world?

China remains the largest crude groundnut oil producing country worldwide, accounting for 39% of total volume. Moreover, crude groundnut oil production in China exceeded the figures recorded by the second-largest producer, Nigeria, fivefold. The third position in this ranking was occupied by India, with a 7% share.

What are the leading suppliers of crude groundnut oil to Thailand?

In value terms, the largest crude groundnut oil suppliers to Thailand were Nigeria $98) and Indonesia $79).

What is the average export price for crude groundnut oil in Thailand?

The average crude groundnut oil export price stood at $5,304 per ton in 2021, with an increase of 18% against the previous year.

What is the average import price for crude groundnut oil in Thailand?

In 2021, the average crude groundnut oil import price amounted to $34,772 per ton, standing approx. at the previous year.

This report provides an in-depth analysis of the crude groundnut 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 244 - Oil of Groundnuts

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
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
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
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
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
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023