
Thailand - Crude Soybean Oil - Market Analysis, Forecast, Size, Trends and Insights
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View PricingThailand: Crude Soybean Oil Market 2025
Crude Soybean Oil Market Size in Thailand
The Thai crude soybean oil market reached $X in 2022, picking up by 6.6% against the previous year. Overall, the total consumption indicated a moderate expansion from 2012 to 2022: its value increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -5.9% against 2020 indices. Crude soybean oil consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.
Crude Soybean Oil Production in Thailand
In value terms, crude soybean oil production rose markedly to $X in 2022 estimated in export price. Over the period under review, the total production indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -5.6% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 42%. Crude soybean oil production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.
Crude Soybean Oil Exports
Exports from Thailand
After two years of growth, shipments abroad of crude soybean oil decreased by -4.8% to X tons in 2022. In general, exports showed a perceptible decline. The pace of growth was the most pronounced in 2017 with an increase of 186% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.
In value terms, crude soybean oil exports soared to $X in 2022. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 200%. The exports peaked in 2022 and are likely to continue growth in the near future.
Exports by Country
Vietnam (X tons) was the main destination for crude soybean oil exports from Thailand, with a 74% share of total exports. Moreover, crude soybean oil exports to Vietnam exceeded the volume sent to the second major destination, India (X tons), sixfold.
From 2012 to 2022, the average annual growth rate of volume to Vietnam stood at +8.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-11.8% per year) and Malaysia (-2.0% per year).
In value terms, Vietnam ($X) remains the key foreign market for crude soybean oil exports from Thailand, comprising 74% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 13% share of total exports.
From 2012 to 2022, the average annual growth rate of value to Vietnam stood at +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+1.5% per year) and India (-9.5% per year).
Export Prices by Country
The average crude soybean oil export price stood at $X per ton in 2022, growing by 22% against the previous year. Overall, the export price continues to indicate a pronounced expansion. The growth pace was the most rapid in 2021 when the average export price increased by 70% against the previous year. Over the period under review, the average export prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.
Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to India ($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 Malaysia (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.
Crude Soybean Oil Imports
Imports into Thailand
Crude soybean oil imports into Thailand contracted significantly to X kg in 2022, reducing by -99.9% against the year before. Overall, imports continue to indicate a sharp reduction. The pace of growth was the most pronounced in 2020 when imports increased by 43,563% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports remained at a lower figure.
In value terms, crude soybean oil imports fell notably to $X in 2022. Over the period under review, imports recorded a significant contraction. The pace of growth was the most pronounced in 2020 when imports increased by 45,560%. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.
Imports by Country
In 2022, the United States (X kg) was the main supplier of crude soybean oil to Thailand, accounting for a approx. 100% share of total imports.
From 2016 to 2022, the average annual growth rate of volume from the United States was relatively modest.
In value terms, the United States ($X) constituted the largest supplier of crude soybean oil to Thailand.
From 2016 to 2022, the average annual growth rate of value from the United States was relatively modest.
Import Prices by Country
In 2022, the average crude soybean oil import price amounted to $X per ton, increasing by 84% against the previous year. Over the period under review, the import price recorded significant growth. The pace of growth appeared the most rapid in 2021 when the average import price increased by 521% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.
As there is only one major supplying country, the average price level is determined by prices for the United States.
From 2016 to 2022, the rate of growth in terms of prices for Malaysia amounted to +2.8% per year.
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Frequently Asked Questions (FAQ) :
This report provides an in-depth analysis of the crude soybean 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 237 - Oil of Soybeans
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
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