Report Update Nov 1, 2024

Thailand - Crude Palm Oil - Market Analysis, Forecast, Size, Trends and Insights

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Thailand: Crude Palm Oil Market 2024

Crude Palm Oil Market Size in Thailand

In 2022, the Thai crude palm oil market decreased by -14.8% to $X, falling for the second year in a row after four years of growth. In general, consumption recorded a mild contraction. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Crude Palm Oil Production in Thailand

In value terms, crude palm oil production reached $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 92%. Over the period under review, production reached the maximum level at $X in 2012; afterwards, it flattened through to 2022.

Crude Palm Oil Exports

Exports from Thailand

In 2022, overseas shipments of crude palm oil increased by 58% to X tons, rising for the second year in a row after two years of decline. Overall, exports recorded a strong increase. The growth pace was the most rapid in 2017 when exports increased by 171,159%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

In value terms, crude palm oil exports skyrocketed to $X in 2022. In general, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 228,191%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

India (X tons) was the main destination for crude palm oil exports from Thailand, with a 94% share of total exports. It was followed by Kenya (X tons), with a 2.1% share of total exports. The third position in this ranking was taken by the Netherlands (X tons), with a 1.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled +50.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+2.1% per year) and the Netherlands (-11.9% per year).

In value terms, India ($X) remains the key foreign market for crude palm oil exports from Thailand, comprising 96% of total exports. The second position in the ranking was held by Kenya ($X), with a 1.5% share of total exports. It was followed by the Netherlands, with a 0.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to +58.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kenya (+13.1% per year) and the Netherlands (-12.7% per year).

Export Prices by Country

The average crude palm oil export price stood at $X per ton in 2022, with an increase of 13% against the previous year. In general, the export price enjoyed a pronounced expansion. The pace of growth was the most pronounced in 2021 an increase of 76%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the countries with the highest prices were India ($X per ton) and Italy ($X per ton), while the average price for exports to Germany ($X per ton) and the Netherlands ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (+10.8%), while the prices for the other major destinations experienced more modest paces of growth.

Crude Palm Oil Imports

Imports into Thailand

In 2020, approx. X kg of crude palm oil were imported into Thailand; growing by 979% on 2019 figures. In general, imports, however, faced a dramatic descent. Imports peaked at X tons in 2015; however, from 2016 to 2020, imports remained at a lower figure.

In value terms, crude palm oil imports soared to $X in 2020. Over the period under review, imports, however, showed a significant decrease. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2020, imports failed to regain momentum.

Imports by Country

In 2020, Malaysia (X kg) was the main supplier of crude palm oil to Thailand, with a 95% share of total imports. Moreover, crude palm oil imports from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X kg), more than tenfold.

From 2013 to 2020, the average annual growth rate of volume from Malaysia totaled +921.4%.

In value terms, Indonesia ($X) constituted the largest supplier of crude palm oil to Thailand, comprising 75% of total imports. The second position in the ranking was taken by Malaysia ($X), with a 25% share of total imports.

From 2013 to 2020, the average annual growth rate of value from Indonesia was relatively modest.

Import Prices by Country

The average crude palm oil import price stood at $X per ton in 2020, surging by 267% against the previous year. In general, the import price saw a notable expansion. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Malaysia amounted to $X per ton.

From 2013 to 2020, the most notable rate of growth in terms of prices was attained by Malaysia (-2.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for crude palm oil in the world?

The country with the largest volume of crude palm oil consumption was Indonesia, accounting for 50% of total volume. Moreover, crude palm oil consumption in Indonesia exceeded the figures recorded by the second-largest consumer, Malaysia, twofold. The third position in this ranking was occupied by India, with a 9.9% share.

What are the largest producers of crude palm oil in the world?

Indonesia remains the largest crude palm oil producing country worldwide, accounting for 58% of total volume. Moreover, crude palm oil production in Indonesia exceeded the figures recorded by the second-largest producer, Malaysia, twofold. The third position in this ranking was occupied by Thailand, with a 4.1% share.

What are the leading suppliers of crude palm oil to Thailand?

In value terms, Indonesia $237) constituted the largest supplier of crude palm oil to Thailand, comprising 75% of total imports. The second position in the ranking was occupied by Malaysia $80), with a 25% share of total imports.

What are the leading importers of crude palm oil from Thailand?

In value terms, India remains the key foreign market for crude palm oil exports from Thailand, comprising 93% of total exports. The second position in the ranking was occupied by Kenya, with a 6.5% share of total exports.

What is the average export price for crude palm oil in Thailand?

The average crude palm oil export price stood at $678 per ton in 2021, increasing by 5.5% against the previous year.

What is the average import price for crude palm oil in Thailand?

The average crude palm oil import price stood at $712 per ton in 2020, stabilizing at the previous year.

This report provides an in-depth analysis of the crude palm 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 257 - Oil of palm

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:

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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
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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