Thailand: Molluscs Market 2024

Molluscs Market Size in Thailand

The Thai molluscs market rose rapidly to $X in 2021, surging by 6.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption continues to indicate a strong increase. Molluscs consumption peaked in 2021 and is likely to see steady growth in the immediate term.

Molluscs Exports

Exports from Thailand

In 2021, approx. X tons of molluscs (scallops, mussels, cuttle fish, squid and octopus) were exported from Thailand; shrinking by -14.1% against the year before. In general, exports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of 19%. Over the period under review, the exports attained the maximum at X tons in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, molluscs exports totaled $X in 2021. Overall, exports saw a abrupt slump. The growth pace was the most rapid in 2014 when exports increased by 7%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Italy (X tons), South Korea (X tons) and Japan (X tons) were the main destinations of molluscs exports from Thailand, with a combined 61% share of total exports. These countries were followed by China, the United States, Taiwan (Chinese), Canada, Australia and Vietnam, which together accounted for a further 30%.

From 2012 to 2021, the biggest increases were recorded for China (with a CAGR of +18.8%), while shipments for the other leaders experienced mixed trend patterns.

In value terms, Italy ($X), Japan ($X) and South Korea ($X) appeared to be the largest markets for molluscs exported from Thailand worldwide, with a combined 72% share of total exports. The United States, Canada, China, Australia, Taiwan (Chinese) and Vietnam lagged somewhat behind, together comprising a further 22%.

Among the main countries of destination, China, with a CAGR of +16.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average molluscs export price amounted to $X per ton, growing by 24% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to China ($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 Italy (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Molluscs Imports

Imports into Thailand

In 2021, imports of molluscs (scallops, mussels, cuttle fish, squid and octopus) into Thailand rose sharply to X tons, growing by 6% on the year before. Overall, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +8.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +68.1% against 2019 indices. The pace of growth was the most pronounced in 2013 when imports increased by 68%. Imports peaked at X tons in 2015; however, from 2016 to 2021, imports failed to regain momentum.

In value terms, molluscs imports reduced slightly to $X in 2021. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +9.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +120.6% against 2012 indices. The growth pace was the most rapid in 2013 when imports increased by 45%. Imports peaked at $X in 2020, and then contracted slightly in the following year.

Imports by Country

China (X tons), Peru (X tons) and India (X tons) were the main suppliers of molluscs imports to Thailand, with a combined 68% share of total imports. These countries were followed by Pakistan, Argentina, Vietnam and Chile, which together accounted for a further 23%.

From 2012 to 2021, the biggest increases were recorded for Argentina (with a CAGR of +30.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest molluscs suppliers to Thailand were China ($X), India ($X) and Peru ($X), with a combined 56% share of total imports. These countries were followed by Vietnam, Pakistan, Argentina and Chile, which together accounted for a further 31%.

Argentina, with a CAGR of +36.8%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average molluscs import price stood at $X per ton in 2021, falling by -6.8% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 55%. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Chile (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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