Thailand: Shelled Hazelnut Market 2024

Shelled Hazelnut Market Size in Thailand

In 2021, the Thai shelled hazelnut market decreased by -44% to $X for the first time since 2016, thus ending a four-year rising trend. Over the period under review, consumption, however, showed strong growth. Over the period under review, the market attained the peak level at $X in 2020, and then declined notably in the following year.

Shelled Hazelnut Production in Thailand

In value terms, shelled hazelnut production contracted remarkably to $X in 2021 estimated in export price. Overall, production, however, posted a significant increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 345%. Shelled hazelnut production peaked at $X in 2020, and then shrank significantly in the following year.

Shelled Hazelnut Exports

Exports from Thailand

In 2021, shipments abroad of shelled hazelnuts was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports enjoyed a significant increase. The pace of growth appeared the most rapid in 2018 with an increase of 1,048%. As a result, the exports attained the peak of X tons. From 2019 to 2021, the growth of the exports remained at a lower figure.

In value terms, shelled hazelnut exports soared to $X in 2021. Over the period under review, exports showed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 626%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The Philippines (X tons) was the main destination for shelled hazelnut exports from Thailand, accounting for a 68% share of total exports. Moreover, shelled hazelnut exports to the Philippines exceeded the volume sent to the second major destination, Ethiopia (X kg), fourfold. The third position in this ranking was taken by Finland (X kg), with a 6.5% share.

From 2013 to 2021, the average annual rate of growth in terms of volume to the Philippines stood at +20.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ethiopia (+21.0% per year) and Finland (0.0% per year).

In value terms, the largest markets for shelled hazelnut exported from Thailand were the Philippines ($X), Ethiopia ($X) and Finland ($X), together comprising 87% of total exports.

Ethiopia, with a CAGR of +25.2%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average shelled hazelnut export price stood at $X per ton in 2021, shrinking by -4.5% against the previous year. In general, the export price, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2019 when the average export price increased by 64%. Over the period under review, the average export prices attained the maximum at $X per ton in 2020, and then declined in the following year.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Ethiopia ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2013 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Ethiopia (+19.6%), while the prices for the other major destinations experienced mixed trend patterns.

Shelled Hazelnut Imports

Imports into Thailand

In 2021, overseas purchases of shelled hazelnuts decreased by -4.2% to X tons, falling for the third year in a row after two years of growth. Overall, imports continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2017 with an increase of 265% against the previous year. Over the period under review, imports hit record highs at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, shelled hazelnut imports expanded significantly to $X in 2021. Over the period under review, imports saw a abrupt decline. The pace of growth was the most pronounced in 2018 with an increase of 171%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X tons) constituted the largest shelled hazelnut supplier to Thailand, with a 82% share of total imports. Moreover, shelled hazelnut imports from Turkey exceeded the figures recorded by the second-largest supplier, China (X tons), fivefold.

From 2012 to 2021, the average annual growth rate of volume from Turkey totaled -10.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+6.6% per year) and the United States (-67.0% per year).

In value terms, Turkey ($X) constituted the largest supplier of shelled hazelnuts to Thailand, comprising 67% of total imports. The second position in the ranking was taken by China ($X), with a 33% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to -10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+5.6% per year) and the United States (-67.0% per year).

Import Prices by Country

The average shelled hazelnut import price stood at $X per ton in 2021, increasing by 10% against the previous year. In general, import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, shelled hazelnut import price increased by +24.5% against 2019 indices. The pace of growth was the most pronounced in 2016 an increase of 31%. As a result, import price attained the peak level of $X per ton. From 2017 to 2021, the average 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 China ($X per ton), while the price for the United States ($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 (+0.1%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform