Thailand: Market for Lucerne (Alfalfa) Meal And Pellets 2025

Market Size for Lucerne (Alfalfa) Meal And Pellets in Thailand

In 2021, the Thai lucerne meal and pellets market decreased by -5.7% to $X for the first time since 2014, thus ending a six-year rising trend. In general, consumption continues to indicate resilient growth. Lucerne meal and pellets consumption peaked at $X in 2020, and then declined in the following year.

Production of Lucerne (Alfalfa) Meal And Pellets in Thailand

In value terms, lucerne meal and pellets production declined to $X in 2021 estimated in export price. Over the period under review, production saw a resilient expansion. The growth pace was the most rapid in 2018 when the production volume increased by 34%. Over the period under review, production attained the peak level at $X in 2020, and then reduced in the following year.

Exports of Lucerne (Alfalfa) Meal And Pellets

Exports from Thailand

In 2021, lucerne meal and pellets exports from Thailand stood at X tons, flattening at the previous year. In general, exports showed a sharp decline. The pace of growth appeared the most rapid in 2013 with an increase of 309% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, lucerne meal and pellets exports stood at $X in 2021. Overall, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2013 when exports increased by 329%. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Japan (X tons) was the main destination for lucerne meal and pellets exports from Thailand, with a approx. 99% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Japan was relatively modest.

From 2012 to 2021, the average annual growth rate of value to Japan was relatively modest.

Export Prices by Country

The average lucerne meal and pellets export price stood at $X per ton in 2021, remaining stable against the previous year. In general, the export price enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2013 an increase of 4.8% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Japan.

From 2012 to 2021, the rate of growth in terms of prices for Taiwan (Chinese) amounted to +9.8% per year.

Imports of Lucerne (Alfalfa) Meal And Pellets

Imports into Thailand

In 2021, overseas purchases of lucerne (alfalfa) meal and pellets decreased by -44.8% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, posted a prominent increase. The growth pace was the most rapid in 2019 when imports increased by 303%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports failed to regain momentum.

In value terms, lucerne meal and pellets imports fell rapidly to $X in 2021. Overall, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2019 when imports increased by 421%. Over the period under review, imports attained the peak figure at $X in 2020, and then reduced markedly in the following year.

Imports by Country

Italy (X tons), the United States (X tons) and Spain (X tons) were the main suppliers of lucerne meal and pellets imports to Thailand, together accounting for 98% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of +38.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of lucerne (alfalfa) meal and pellets to Thailand, comprising 57% of total imports. The second position in the ranking was taken by Italy ($X), with a 28% share of total imports. It was followed by Spain, with a 7.9% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +67.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+27.4% per year) and Spain (+29.7% per year).

Import Prices by Country

The average lucerne meal and pellets import price stood at $X per ton in 2021, rising by 8.4% against the previous year. Over the period under review, the import price enjoyed a strong expansion. The most prominent rate of growth was recorded in 2015 when the average import price increased by 52% against the previous year. The import price peaked in 2021 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was France ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+54.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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