Thailand: Sunflower Oilcake Market 2024

Sunflower Oilcake Market Size in Thailand

In 2021, the Thai sunflower oilcake market decreased by -2% to $X, falling for the third year in a row after two years of growth. The market value increased at an average annual rate of +3.2% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Sunflower Oilcake Production in Thailand

In value terms, sunflower oilcake production amounted to $X in 2021 estimated in export price. Over the period under review, the total production indicated a pronounced expansion from 2012 to 2021: its value increased at an average annual rate of +2.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -21.3% against 2018 indices. The growth pace was the most rapid in 2018 with an increase of 32%. Sunflower oilcake production peaked at $X in 2014; however, from 2015 to 2021, production stood at a somewhat lower figure.

Sunflower Oilcake Exports

Exports from Thailand

In 2021, exports of sunflower oilcake from Thailand soared to X tons, picking up by 534% on 2020. In general, exports recorded a significant expansion. The pace of growth appeared the most rapid in 2018 with an increase of 1,032%. The exports peaked in 2021 and are expected to retain growth in the immediate term.

In value terms, sunflower oilcake exports skyrocketed to $X in 2021. Overall, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 1,391%. Over the period under review, the exports reached the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

Lao People's Democratic Republic (X tons) was the main destination for sunflower oilcake exports from Thailand, with a 82% share of total exports. Moreover, sunflower oilcake exports to Lao People's Democratic Republic exceeded the volume sent to the second major destination, Myanmar (X tons), sixfold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Lao People's Democratic Republic stood at +1,023.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+55.6% per year) and Vietnam (+18.9% per year).

In value terms, Lao People's Democratic Republic ($X) emerged as the key foreign market for sunflower oilcake exports from Thailand, comprising 76% of total exports. The second position in the ranking was taken by Myanmar ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Lao People's Democratic Republic amounted to +645.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Myanmar (+39.4% per year) and Vietnam (+105.3% per year).

Export Prices by Country

The average sunflower oilcake export price stood at $X per ton in 2021, growing by 10% against the previous year. Over the period under review, the export price, however, showed a pronounced curtailment. The most prominent rate of growth was recorded in 2013 an increase of 72%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Vietnam ($X per ton), while the average price for exports to Lao People's Democratic Republic ($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 Vietnam (+72.6%), while the prices for the other major destinations experienced a decline.

Sunflower Oilcake Imports

Imports into Thailand

In 2021, the amount of sunflower oilcake imported into Thailand declined dramatically to X tons, reducing by -50.3% on 2020 figures. Over the period under review, imports, however, saw strong growth. The pace of growth appeared the most rapid in 2016 with an increase of 219% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, sunflower oilcake imports contracted sharply to $X in 2021. Overall, imports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2016 when imports increased by 181%. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Ukraine (X tons) was the main supplier of sunflower oilcake to Thailand, accounting for a approx. 99.9% share of total imports.

From 2012 to 2021, the average annual growth rate of volume from Ukraine totaled +34.8%.

In value terms, Ukraine ($X) constituted the largest supplier of sunflower oilcake to Thailand.

From 2012 to 2021, the average annual rate of growth in terms of value from Ukraine stood at +39.9%.

Import Prices by Country

In 2021, the average sunflower oilcake import price amounted to $X per ton, surging by 19% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +3.6%. The pace of growth was the most pronounced in 2013 an increase of 22% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Ukraine.

From 2012 to 2021, the rate of growth in terms of prices for Ukraine amounted to +3.8% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :