Thailand: Salt Market 2024

Salt Market Size in Thailand

In 2022, the Thai salt market decreased by -5.6% to $X, falling for the third consecutive year after three years of growth. Overall, the total consumption indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -30.7% against 2019 indices. Salt consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Salt Production in Thailand

In value terms, salt production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -28.1% against 2019 indices. The pace of growth was the most pronounced in 2019 when the production volume increased by 31% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Salt Exports

Exports from Thailand

In 2022, the amount of salt and pure sodium chloride exported from Thailand surged to X tons, picking up by 69% on the previous year's figure. Overall, exports recorded prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, salt exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate strong growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Cambodia (X tons), Vietnam (X tons) and Myanmar (X tons) were the main destinations of salt exports from Thailand, with a combined 67% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Myanmar (with a CAGR of +95.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cambodia ($X), Vietnam ($X) and Papua New Guinea ($X) appeared to be the largest markets for salt exported from Thailand worldwide, with a combined 60% share of total exports. Myanmar, Malaysia, the Philippines, Marshall Islands, Singapore and Taiwan (Chinese) lagged somewhat behind, together comprising a further 29%.

In terms of the main countries of destination, Myanmar, with a CAGR of +80.9%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average salt export price stood at $X per ton in 2022, shrinking by -5.8% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 an increase of 46%. As a result, the export price reached the peak level of $X per ton. From 2020 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Papua New Guinea ($X per ton), while the average price for exports to Marshall Islands ($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 Taiwan (Chinese) (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

Salt Imports

Imports into Thailand

In 2022, purchases abroad of salt and pure sodium chloride decreased by -11% to X tons, falling for the fourth year in a row after two years of growth. Overall, imports, however, posted a slight increase. The pace of growth was the most pronounced in 2015 when imports increased by 211%. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, salt imports reduced remarkably to $X in 2022. In general, imports, however, posted a pronounced expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 97%. As a result, imports reached the peak of $X. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest salt supplier to Thailand, with a 76% share of total imports. Moreover, salt imports from India exceeded the figures recorded by the second-largest supplier, New Zealand (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India stood at +3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+7.6% per year) and China (-11.7% per year).

In value terms, India ($X) constituted the largest supplier of salt and pure sodium chloride to Thailand, comprising 48% of total imports. The second position in the ranking was taken by New Zealand ($X), with an 11% share of total imports. It was followed by Germany, with an 8.1% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to +2.6%. The remaining supplying countries recorded the following average annual rates of imports growth: New Zealand (+16.2% per year) and Germany (+11.7% per year).

Import Prices by Country

In 2022, the average salt import price amounted to $X per ton, waning by -16.9% against the previous year. In general, the import price, however, showed a perceptible increase. The most prominent rate of growth was recorded in 2019 an increase of 61% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then reduced sharply in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+7.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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