Thailand: Soybean Oilcake Market 2024

Soybean Oilcake Market Size in Thailand

In 2023, the Thai soybean oilcake market increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Soybean oilcake consumption peaked in 2023 and is expected to retain growth in years to come.

Soybean Oilcake Production in Thailand

In value terms, soybean oilcake production reduced notably to $X in 2023 estimated in export price. In general, production showed a sharp decrease. Soybean oilcake production peaked at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.

Soybean Oilcake Exports

Exports from Thailand

After two years of growth, shipments abroad of soybean oilcake decreased by X% to X tons in 2023. Over the period under review, exports, however, continue to indicate a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The exports peaked at X tons in 2022, and then contracted dramatically in the following year.

In value terms, soybean oilcake exports reduced rapidly to $X in 2023. Overall, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by X%. The exports peaked at $X in 2022, and then shrank sharply in the following year.

Exports by Country

Cambodia (X tons), Lao People's Democratic Republic (X tons) and Myanmar (X tons) were the main destinations of soybean oilcake exports from Thailand, together comprising X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Lao People's Democratic Republic (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for soybean oilcake exported from Thailand were Cambodia ($X), Lao People's Democratic Republic ($X) and Myanmar ($X), with a combined X% share of total exports.

Among the main countries of destination, Lao People's Democratic Republic, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2023, the average soybean oilcake export price amounted to $X per ton, increasing by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of X% against the previous year. The export price peaked in 2023 and is expected to retain growth in years to come.

Average prices varied somewhat for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Myanmar ($X per ton), while the average price for exports to Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Myanmar (X%), while the prices for the other major destinations experienced more modest paces of growth.

Soybean Oilcake Imports

Imports into Thailand

In 2023, imports of soybean oilcake into Thailand stood at X tons, surging by X% on 2022 figures. The total import volume increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Imports peaked in 2023 and are likely to see steady growth in the near future.

In value terms, soybean oilcake imports rose sharply to $X in 2023. Overall, total imports indicated a perceptible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the maximum in 2023 and are expected to retain growth in years to come.

Imports by Country

In 2023, Brazil (X tons) was the main supplier of soybean oilcake to Thailand, with a X% share of total imports. It was followed by India (X tons), with a X% share of total imports. Argentina (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume from Brazil totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Argentina (X% per year).

In value terms, Brazil ($X) constituted the largest supplier of soybean oilcake to Thailand, comprising X% of total imports. The second position in the ranking was held by India ($X), with a X% share of total imports. It was followed by Argentina, with a X% share.

From 2012 to 2023, the average annual growth rate of value from Brazil totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (X% per year) and Argentina (X% per year).

Import Prices by Country

In 2023, the average soybean oilcake import price amounted to $X per ton, surging by X% against the previous year. Overall, import price indicated modest growth from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, soybean oilcake import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of X%. The import price peaked at $X per ton in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2023, amid the top importers, the highest price was recorded for prices from the United States ($X per ton) and Argentina ($X per ton), while the price for Brazil ($X per ton) and India ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Argentina (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform