Thailand: Market for Prepared Or Preserved Shoulders And Cuts Of Swine Meat 2024

Market Size for Prepared Or Preserved Shoulders And Cuts Of Swine Meat in Thailand

The Thai preserved swine meat cut market reduced slightly to $X in 2021, shrinking by -2.3% against the previous year. Overall, consumption continues to indicate a abrupt slump. Preserved swine meat cut consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

Production of Prepared Or Preserved Shoulders And Cuts Of Swine Meat in Thailand

In value terms, preserved swine meat cut production reached $X in 2021 estimated in export price. Over the period under review, production continues to indicate a deep contraction. The growth pace was the most rapid in 2017 with an increase of 22%. Preserved swine meat cut production peaked at $X in 2012; however, from 2013 to 2021, production failed to regain momentum.

Exports of Prepared Or Preserved Shoulders And Cuts Of Swine Meat

Exports from Thailand

In 2021, approx. X tons of prepared or preserved shoulders and cuts of swine meat were exported from Thailand; declining by -55.1% against the previous year. Over the period under review, exports, however, posted significant growth. The growth pace was the most rapid in 2014 when exports increased by 527% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then dropped markedly in the following year.

In value terms, preserved swine meat cut exports contracted notably to $X in 2021. In general, exports, however, continue to indicate a significant expansion. The growth pace was the most rapid in 2014 when exports increased by 306%. Over the period under review, the exports hit record highs at $X in 2020, and then plummeted in the following year.

Exports by Country

Hong Kong SAR (X tons) was the main destination for preserved swine meat cut exports from Thailand, with a 90% share of total exports. Moreover, preserved swine meat cut exports to Hong Kong SAR exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), ninefold.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR stood at +65.5%.

In value terms, Hong Kong SAR ($X) remains the key foreign market for prepared or preserved shoulders and cuts of swine meat exports from Thailand, comprising 68% of total exports. The second position in the ranking was held by Lao People's Democratic Republic ($X), with a 32% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR amounted to +19.4%.

Export Prices by Country

In 2021, the average preserved swine meat cut export price amounted to $X per ton, reducing by -24.4% against the previous year. In general, the export price continues to indicate a precipitous decline. The pace of growth appeared the most rapid in 2017 when the average export price increased by 282%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Lao People's Democratic Republic ($X per ton), while the average price for exports to Hong Kong SAR stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Vietnam (+60.0%), while the prices for the other major destinations experienced a decline.

Imports of Prepared Or Preserved Shoulders And Cuts Of Swine Meat

Imports into Thailand

Preserved swine meat cut imports into Thailand soared to X tons in 2021, rising by 1,960% compared with 2020. In general, imports posted a significant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, preserved swine meat cut imports surged to $X in 2021. Over the period under review, imports continue to indicate a significant expansion. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Korea (X tons) constituted the largest supplier of preserved swine meat cut to Thailand, with a 90% share of total imports. Moreover, preserved swine meat cut imports from South Korea exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), ninefold. Singapore (X kg) ranked third in terms of total imports with a 0.2% share.

From 2012 to 2021, the average annual growth rate of volume from South Korea totaled +41.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+178.2% per year) and Singapore (-52.7% per year).

In value terms, South Korea ($X) constituted the largest supplier of prepared or preserved shoulders and cuts of swine meat to Thailand, comprising 94% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($X), with a 5.1% share of total imports. It was followed by Singapore, with a 0.1% share.

From 2012 to 2021, the average annual growth rate of value from South Korea totaled +43.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+145.1% per year) and Singapore (-62.8% per year).

Import Prices by Country

In 2021, the average preserved swine meat cut import price amounted to $X per ton, picking up by 31% against the previous year. Over the period under review, the import price, however, showed a slight decrease. The growth pace was the most rapid in 2014 when the average import price increased by 71%. Over the period under review, average import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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 China ($X per ton), while the price for Taiwan (Chinese) ($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 United States (+227.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :