Thailand: Potato Market 2024

Potato Market Size in Thailand

The Thai potato market amounted to $X in 2021, picking up by 1.8% against the previous year. Over the period under review, consumption showed pronounced growth. As a result, consumption reached the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Potato Production in Thailand

In value terms, potato production dropped notably to $X in 2021 estimated in export price. Over the period under review, production, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 146% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

In 2021, the average yield of potatoes in Thailand dropped slightly to X tons per ha, waning by -1.6% against the year before. The yield figure increased at an average annual rate of +1.9% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2014 when the yield increased by 7.2% against the previous year. Over the period under review, the average potato yield hit record highs at X tons per ha in 2020, and then shrank slightly in the following year. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2021, approx. X ha of potatoes were harvested in Thailand; surging by 2.1% on 2020. Over the period under review, the harvested area, however, recorded a noticeable contraction. The most prominent rate of growth was recorded in 2015 with an increase of 23%. Over the period under review, the harvested area dedicated to potato production reached the peak figure at X ha in 2012; however, from 2013 to 2021, the harvested area remained at a lower figure.

Potato Exports

Exports from Thailand

In 2021, overseas shipments of potatoes increased by 973% to X tons, rising for the second year in a row after three years of decline. Over the period under review, exports saw a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, potato exports soared to $X in 2021. In general, exports posted significant growth. The most prominent rate of growth was recorded in 2020 with an increase of 1,157% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are likely to continue growth in years to come.

Exports by Country

Malaysia (X tons) was the main destination for potato exports from Thailand, accounting for a 74% share of total exports. Moreover, potato exports to Malaysia exceeded the volume sent to the second major destination, Sri Lanka (X tons), fourfold. Lao People's Democratic Republic (X tons) ranked third in terms of total exports with a 4.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Malaysia stood at +64.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+372.8% per year) and Lao People's Democratic Republic (+23.6% per year).

In value terms, Malaysia ($X) emerged as the key foreign market for potato exports from Thailand, comprising 58% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a 20% share of total exports. It was followed by Lao People's Democratic Republic, with an 8.3% share.

From 2012 to 2021, the average annual growth rate of value to Malaysia stood at +69.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Sri Lanka (+148.0% per year) and Lao People's Democratic Republic (+34.1% per year).

Export Prices by Country

In 2021, the average potato export price amounted to $X per ton, with a decrease of -48.4% against the previous year. Overall, the export price continues to indicate a noticeable reduction. The pace of growth appeared the most rapid in 2020 an increase of 50% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined notably in the following year.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Malaysia ($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 the United States (+9.5%), while the prices for the other major destinations experienced more modest paces of growth.

Potato Imports

Imports into Thailand

In 2021, potato imports into Thailand surged to X tons, with an increase of 44% compared with 2020. In general, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, potato imports surged to $X in 2021. Over the period under review, total imports indicated a moderate expansion from 2012 to 2021: its value increased at an average annual rate of +3.8% 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 +24.7% against 2019 indices. The growth pace was the most rapid in 2016 when imports increased by 51%. Imports peaked in 2021 and are likely to see steady growth in years to come.

Imports by Country

In 2021, China (X tons) constituted the largest potato supplier to Thailand, accounting for a 55% share of total imports. Moreover, potato imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. Canada (X tons) ranked third in terms of total imports with an 8.6% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +23.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.0% per year) and Canada (-2.6% per year).

In value terms, the largest potato suppliers to Thailand were China ($X), Germany ($X) and Canada ($X), together accounting for 73% of total imports.

China, with a CAGR of +18.5%, recorded the highest rates of growth with regard to 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 potato import price stood at $X per ton in 2021, declining by -16% against the previous year. Overall, the import price showed a pronounced slump. The pace of growth appeared the most rapid in 2017 an increase of 17% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+0.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :