Report Update Nov 1, 2024

Thailand - Rapeseed Oil - Market Analysis, Forecast, Size, Trends and Insights

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Thailand: Rapeseed Oil Market 2024

Rapeseed Oil Market Size in Thailand

The Thai rapeseed oil market surged to $X in 2022, rising by 211% against the previous year. Overall, consumption enjoyed a significant expansion. Rapeseed oil consumption peaked in 2022 and is likely to see steady growth in the immediate term.

Rapeseed Oil Production in Thailand

In value terms, rapeseed oil production amounted to $X in 2022 estimated in export price. Overall, production recorded a sharp decrease. The most prominent rate of growth was recorded in 2013 when the production volume decreased by 99.9% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Rapeseed Oil Exports

Exports from Thailand

After four years of growth, overseas shipments of rapeseed oil decreased by -79.3% to X tons in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 196% against the previous year. As a result, the exports reached the peak of X tons, and then reduced notably in the following year.

In value terms, rapeseed oil exports declined dramatically to $X in 2022. Over the period under review, exports, however, saw a resilient expansion. The pace of growth was the most pronounced in 2020 with an increase of 284%. Over the period under review, the exports hit record highs at $X in 2021, and then contracted remarkably in the following year.

Exports by Country

The Philippines (X tons), Japan (X tons) and South Korea (X tons) were the main destinations of rapeseed oil exports from Thailand, with a combined 91% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Philippines (with a CAGR of +241.8%), while the other leaders experienced more modest paces of growth.

In value terms, the Philippines ($X) emerged as the key foreign market for rapeseed oil exports from Thailand, comprising 56% of total exports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a 19% share of total exports. It was followed by Japan, with an 11% share.

From 2012 to 2022, the average annual growth rate of value to the Philippines stood at +325.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Taiwan (Chinese) (+43.7% per year) and Japan (+77.0% per year).

Export Prices by Country

The average rapeseed oil export price stood at $X per ton in 2022, surging by 33% against the previous year. Overall, the export price saw prominent growth. The pace of growth was the most pronounced in 2020 when the average export price increased by 55%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Taiwan (Chinese) ($X per ton), while the average price for exports to South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Philippines (+24.6%), while the prices for the other major destinations experienced more modest paces of growth.

Rapeseed Oil Imports

Imports into Thailand

In 2022, rapeseed oil imports into Thailand skyrocketed to X tons, picking up by 29% compared with 2021. Overall, imports recorded significant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 246%. Over the period under review, imports hit record highs at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, rapeseed oil imports soared to $X in 2022. In general, imports saw a significant increase. The pace of growth was the most pronounced in 2015 when imports increased by 143% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Imports by Country

Australia (X tons), Malaysia (X tons) and Japan (X tons) were the main suppliers of rapeseed oil imports to Thailand, together comprising 95% of total imports.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +42.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest rapeseed oil suppliers to Thailand were Australia ($X), Malaysia ($X) and Japan ($X), with a combined 95% share of total imports.

In terms of the main suppliers, Australia, with a CAGR of +44.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average rapeseed oil import price amounted to $X per ton, with an increase of 30% against the previous year. In general, the import price, however, continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2021 when the average import price increased by 42%. Over the period under review, average import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, 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 Japan ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+2.6%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for rapeseed oil in the world?

The countries with the highest volumes of rapeseed oil consumption in 2021 were China, the United States and India, with a combined 41% share of global consumption. Germany, Poland, France, Canada, Japan, Belgium, the UK, Mexico, the Netherlands and Norway lagged somewhat behind, together accounting for a further 42%.

What are the largest producers of rapeseed oil in the world?

The countries with the highest volumes of rapeseed oil production in 2021 were Canada, Germany and China, together comprising 43% of global production. India, France, Poland, Japan, the United States, the UK, Belgium, Russia, Mexico and the Czech Republic lagged somewhat behind, together accounting for a further 42%.

What are the leading suppliers of rapeseed oil to Thailand?

In value terms, Australia, Malaysia and Japan were the largest rapeseed oil suppliers to Thailand, with a combined 87% share of total imports.

What are the leading importers of rapeseed oil from Thailand?

In value terms, Hong Kong SAR, Malaysia and the Philippines were the largest markets for rapeseed oil exported from Thailand worldwide, with a combined 85% share of total exports.

What is the average export price for rapeseed oil in Thailand?

In 2021, the average rapeseed oil export price amounted to $1,261 per ton, surging by 28% against the previous year.

What is the average import price for rapeseed oil in Thailand?

In 2021, the average rapeseed oil import price amounted to $1,519 per ton, with an increase of 34% against the previous year.

This report provides an in-depth analysis of the rapeseed 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 271 - Oil of Rapeseed or Canola oil

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
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How to increase your profit margins
How to make your supply chain more sustainable
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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