Thailand: Preserved Sweet Corn Market 2024

Preserved Sweet Corn Market Size in Thailand

The Thai preserved sweet corn market skyrocketed to $X in 2022, jumping by 57% against the previous year. Overall, consumption, however, saw a slight decrease. Over the period under review, the market reached the maximum level at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Preserved Sweet Corn Production in Thailand

In value terms, preserved sweet corn production declined to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 13%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

In 2022, the average yield of sweet corn prepared or preserved in Thailand totaled less than X kg per ha, remaining stable against the year before. In general, the yield showed a relatively flat trend pattern. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, approx. less than X ha of sweet corn prepared or preserved were harvested in Thailand; leveling off at the previous year. In general, the harvested area continues to indicate a relatively flat trend pattern.

Preserved Sweet Corn Exports

Exports from Thailand

In 2022, preserved sweet corn exports from Thailand contracted to X tons, declining by -7.3% on the previous year. The total export volume increased at an average annual rate of +1.1% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 with an increase of 20%. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, preserved sweet corn exports shrank to $X in 2022. In general, exports, however, saw a modest increase. The most prominent rate of growth was recorded in 2014 with an increase of 15%. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Japan (X tons), South Korea (X tons) and the Philippines (X tons) were the main destinations of preserved sweet corn exports from Thailand, with a combined 46% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +9.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for preserved sweet corn exported from Thailand were Japan ($X), South Korea ($X) and Taiwan (Chinese) ($X), with a combined 45% share of total exports. The Philippines, the United States, the UK, Australia, Hong Kong SAR, Saudi Arabia, Malaysia, Singapore, Norway and Russia lagged somewhat behind, together comprising a further 35%.

The Philippines, with a CAGR of +9.8%, saw the highest rates of growth with regard to 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

In 2022, the average preserved sweet corn export price amounted to $X per ton, with an increase of 3.7% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 12%. Over the period under review, the average export prices hit record highs at $X per ton in 2013; afterwards, it flattened through to 2022.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the countries with the highest prices were Japan ($X per ton) and the UK ($X per ton), while the average price for exports to South Korea ($X per ton) and the United States ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+0.9%), while the prices for the other major destinations experienced more modest paces of growth.

Preserved Sweet Corn Imports

Imports into Thailand

Preserved sweet corn imports into Thailand soared to X tons in 2022, rising by 77% against 2021 figures. Overall, imports recorded a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 354% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, preserved sweet corn imports surged to $X in 2022. In general, imports recorded a resilient increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest preserved sweet corn supplier to Thailand, with a approx. 53% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China stood at +10.3%.

In value terms, China ($X) constituted the largest supplier of sweet corn prepared or preserved to Thailand.

From 2012 to 2022, the average annual growth rate of value from China amounted to +2.8%.

Import Prices by Country

In 2022, the average preserved sweet corn import price amounted to $X per ton, jumping by 46% against the previous year. In general, the import price, however, showed a pronounced contraction. The growth pace was the most rapid in 2015 when the average import price increased by 208% against the previous year. As a result, import price reached the peak level of $X per ton. From 2016 to 2022, the average import prices remained at a lower figure.

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

From 2012 to 2022, the rate of growth in terms of prices for China amounted to -6.8% per year.

Source: IndexBox Platform

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