Report Update Nov 1, 2024

Thailand - Ground-Nut Oil - Market Analysis, Forecast, Size, Trends and Insights

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Thailand: Groundnut Oil Market 2024

Groundnut Oil Market Size in Thailand

After two years of decline, the Thai groundnut oil market increased by 34% to $X in 2021. Over the period under review, consumption, however, recorded a deep setback. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Groundnut Oil Production in Thailand

In value terms, groundnut oil production surged to $X in 2021 estimated in export price. Over the period under review, production, however, continues to indicate a deep setback. The growth pace was the most rapid in 2015 when the production volume increased by 1,003% against the previous year. Groundnut oil production peaked at $X in 2013; however, from 2014 to 2021, production remained at a lower figure.

Groundnut Oil Exports

Exports from Thailand

Groundnut oil exports from Thailand dropped sharply to X tons in 2021, declining by -85.7% compared with 2020. Over the period under review, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 12,022% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, groundnut oil exports shrank markedly to $X in 2021. In general, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 with an increase of 4,610%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for groundnut oil exports from Thailand, with a 83% share of total exports. Moreover, groundnut oil exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Vietnam (X tons), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to Lao People's Democratic Republic totaled +68.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+75.9% per year) and the United Arab Emirates (0.0% per year).

In value terms, Lao People's Democratic Republic ($X) remains the key foreign market for groundnut oil exports from Thailand, comprising 59% of total exports. The second position in the ranking was held by Vietnam ($X), with a 22% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Lao People's Democratic Republic amounted to +71.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+55.8% per year) and the United Arab Emirates (+35.5% per year).

Export Prices by Country

The average groundnut oil export price stood at $X per ton in 2021, rising by 54% against the previous year. Overall, the export price, however, recorded a deep setback. The most prominent rate of growth was recorded in 2015 an increase of 743%. The export price peaked at $X per ton in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Taiwan (Chinese) (+4.4%), while the prices for the other major destinations experienced mixed trend patterns.

Groundnut Oil Imports

Imports into Thailand

Groundnut oil imports into Thailand contracted sharply to X tons in 2021, with a decrease of -51.8% against the previous year's figure. Over the period under review, imports saw a pronounced descent. The most prominent rate of growth was recorded in 2020 with an increase of 353% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, groundnut oil imports rose sharply to $X in 2021. Overall, imports, however, posted modest growth. The pace of growth appeared the most rapid in 2020 when imports increased by 320%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) was the main groundnut oil supplier to Thailand, accounting for a approx. 99.9% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States amounted to +2.1%.

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

From 2012 to 2021, the average annual growth rate of value from the United States stood at +7.8%.

Import Prices by Country

The average groundnut oil import price stood at $X per ton in 2021, surging by 130% against the previous year. Overall, the import price continues to indicate a strong increase. As a result, import price reached the peak level and is likely to continue 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 2012 to 2021, the rate of growth in terms of prices for the United States amounted to +5.5% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

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

The country with the largest volume of groundnut oil consumption was China, comprising approx. 47% of total volume. Moreover, groundnut oil consumption in China exceeded the figures recorded by the second-largest consumer, Nigeria, sixfold. Sudan ranked third in terms of total consumption with a 4.5% share.

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

China constituted the country with the largest volume of groundnut oil production, comprising approx. 41% of total volume. Moreover, 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 6.9% share.

What are the leading suppliers of groundnut oil to Thailand?

In value terms, Belgium constituted the largest supplier of groundnut oil to Thailand.

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

The average groundnut oil export price stood at $1,259 per ton in 2020, declining by -31.4% against the previous year.

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

In 2020, the average groundnut oil import price amounted to $2,192 per ton, with a decrease of -6.8% against the previous year.

This report provides an in-depth analysis of the 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