Thailand: Rice Bran Market 2024

Rice Bran Market Size in Thailand

The Thai rice bran market dropped to $X in 2021, falling by -12% against the previous year. The market value increased at an average annual rate of +2.5% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Rice Bran Production in Thailand

In value terms, rice bran production expanded sharply to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 35% against the previous year. Rice bran production peaked at $X in 2017; however, from 2018 to 2021, production failed to regain momentum.

Rice Bran Exports

Exports from Thailand

After three years of decline, shipments abroad of rice bran increased by 274% to X tons in 2021. Overall, exports saw a remarkable increase. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, rice bran exports surged to $X in 2021. Over the period under review, exports posted a buoyant expansion. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Cambodia (X tons) was the main destination for rice bran exports from Thailand, accounting for a 59% share of total exports. Moreover, rice bran exports to Cambodia exceeded the volume sent to the second major destination, Lao People's Democratic Republic (X tons), threefold. Vietnam (X tons) ranked third in terms of total exports with a 6.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Cambodia totaled +15.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lao People's Democratic Republic (+4.1% per year) and Vietnam (+124.5% per year).

In value terms, Cambodia ($X) remains the key foreign market for rice bran exports from Thailand, comprising 52% of total exports. The second position in the ranking was taken by the United States ($X), with a 20% share of total exports. It was followed by Lao People's Democratic Republic, with an 18% share.

From 2012 to 2021, the average annual growth rate of value to Cambodia amounted to +20.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+102.8% per year) and Lao People's Democratic Republic (+4.3% per year).

Export Prices by Country

The average rice bran export price stood at $X per ton in 2021, which is down by -3.3% against the previous year. In general, export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, rice bran export price increased by +50.5% against 2014 indices. The pace of growth was the most pronounced in 2013 an increase of 31% against the previous year. The export price peaked at $X per ton in 2020, and then fell in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Singapore ($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 Cambodia (+4.5%), while the prices for the other major destinations experienced more modest paces of growth.

Rice Bran Imports

Imports into Thailand

After six years of growth, overseas purchases of rice bran decreased by -52.1% to X tons in 2021. Over the period under review, imports, however, posted significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 3,262%. Over the period under review, imports hit record highs at X tons in 2020, and then fell sharply in the following year.

In value terms, rice bran imports shrank notably to $X in 2021. Overall, imports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2019 with an increase of 441%. Imports peaked at $X in 2020, and then declined significantly in the following year.

Imports by Country

Cambodia (X tons) and Myanmar (X tons) were the main suppliers of rice bran imports to Thailand.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Cambodia (with a CAGR of +56.2%).

In value terms, the largest rice bran suppliers to Thailand were Cambodia ($X) and Myanmar ($X).

Cambodia, with a CAGR of +60.4%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review.

Import Prices by Country

In 2021, the average rice bran import price amounted to $X per ton, with an increase of 6.3% against the previous year. Overall, the import price, however, faced a dramatic curtailment. The pace of growth was the most pronounced in 2014 an increase of 72%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Myanmar ($X per ton), while the price for Cambodia totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cambodia (+2.6%).

Source: IndexBox Platform

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