Thailand: Frozen Potato Market 2024

Frozen Potato Market Size in Thailand

In 2021, the Thai frozen potato market decreased by -17.3% to $X for the first time since 2017, thus ending a three-year rising trend. In general, the total consumption indicated prominent growth from 2012 to 2021: its value increased at an average annual rate of +6.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Frozen potato consumption peaked at $X in 2020, and then shrank significantly in the following year.

Frozen Potato Exports

Exports from Thailand

In 2021, shipments abroad of frozen potatoes decreased by -31.9% to X tons, falling for the second year in a row after two years of growth. Overall, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2015 with an increase of 410%. The exports peaked at X tons in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, frozen potato exports contracted markedly to $X in 2021. In general, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 498% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Japan (X tons) was the main destination for frozen potato exports from Thailand, with a 62% share of total exports. Moreover, frozen potato exports to Japan exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), twofold.

From 2012 to 2021, the average annual growth rate of volume to Japan amounted to +32.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+47.0% per year) and Cambodia (+60.1% per year).

In value terms, Japan ($X) remains the key foreign market for frozen potatoes exports from Thailand, comprising 78% of total exports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Japan amounted to +23.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+26.4% per year) and Cambodia (+43.8% per year).

Export Prices by Country

The average frozen potato export price stood at $X per ton in 2021, surging by 5% against the previous year. Over the period under review, the export price, however, saw a deep downturn. The pace of growth appeared the most rapid in 2020 an increase of 22%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Cambodia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Japan (-7.2%), while the prices for the other major destinations experienced a decline.

Frozen Potato Imports

Imports into Thailand

In 2021, after three years of growth, there was significant decline in supplies from abroad of frozen potatoes, when their volume decreased by -14.8% to X tons. In general, total imports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2015 with an increase of 30%. Over the period under review, imports hit record highs at X tons in 2020, and then fell in the following year.

In value terms, frozen potato imports contracted notably to $X in 2021. Overall, total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 when imports increased by 23% against the previous year. Imports peaked at $X in 2020, and then plummeted in the following year.

Imports by Country

India (X tons), the Netherlands (X tons) and China (X tons) were the main suppliers of frozen potato imports to Thailand, together accounting for 76% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +115.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest frozen potato suppliers to Thailand were India ($X), the Netherlands ($X) and the United States ($X), together accounting for 73% of total imports.

In terms of the main suppliers, India, with a CAGR of +90.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average frozen potato import price amounted to $X per ton, reducing by -3.6% against the previous year. Overall, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 9.1% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the average import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2021, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and New Zealand ($X per ton), while the price for India ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+2.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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