Onion Price in Thailand - 2024
Contents:
- Onion Price in Thailand (CIF) - 2024
- Onion Price in Thailand (FOB) - 2024
- Onion Imports in Thailand
- Onion Exports in Thailand
Onion Price in Thailand (CIF) - 2024
The average onion import price stood at $399 per ton in May 2024, jumping by 15% against the previous month. Overall, the import price, however, showed a perceptible reduction. The most prominent rate of growth was recorded in April 2024 when the average import price increased by 63% against the previous month. Over the period under review, average import prices attained the maximum at $579 per ton in May 2023; however, from June 2023 to May 2024, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In May 2024, the country with the highest price was Australia ($749 per ton), while the price for China ($150 per ton) was amongst the lowest.
From May 2023 to May 2024, the most notable rate of growth in terms of prices was attained by Indonesia (+3.2%), while the prices for the other major suppliers experienced more modest paces of growth.
Onion Price in Thailand (FOB) - 2024
The average onion export price stood at $897 per ton in May 2024, increasing by 1.6% against the previous month. Over the period under review, the export price, however, saw a slight reduction. The growth pace was the most rapid in December 2023 when the average export price increased by 35% month-to-month. The export price peaked at $1,159 per ton in August 2023; however, from September 2023 to May 2024, the export prices stood at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Japan ($4,150 per ton), while the average price for exports to Vietnam ($329 per ton) was amongst the lowest.
From May 2023 to May 2024, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+2.8%), while the prices for the other major destinations experienced more modest paces of growth.
Onion Imports in Thailand
In 2022, the amount of onions (dry) imported into Thailand was estimated at 64K tons, surging by 2.1% against 2021. In general, imports, however, faced a abrupt downturn. The pace of growth was the most pronounced in 2020 with an increase of 5.5%. As a result, imports attained the peak of 107K tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
In value terms, onion imports shrank to $23M in 2022. Over the period under review, imports, however, saw a deep slump. The most prominent rate of growth was recorded in 2020 when imports increased by 0.6% against the previous year. As a result, imports attained the peak of $34M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
Import of Onion in Thailand (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Australia | 6.3 | 5.3 | 10.3 | 8.2 | 9.2% |
China | 11.6 | 10.6 | 4.3 | 6.0 | -19.7% |
Myanmar | 2.2 | 4.0 | 4.8 | 3.9 | 21.0% |
Indonesia | 7.2 | 10.2 | 5.0 | 3.3 | -22.9% |
India | 4.7 | 2.1 | 0.8 | 1.0 | -40.3% |
New Zealand | 0.1 | 0.1 | N/A | 1.0 | 115.4% |
Netherlands | 0.7 | 0.9 | 0.2 | 0.1 | -47.7% |
Others | 0.7 | 0.5 | N/A | N/A | -28.6% |
Total | 33.4 | 33.6 | 25.4 | 23.5 | -11.1% |
Top Suppliers of Onion to Thailand in 2022:
- China (27.1K tons)
- Myanmar (15.0K tons)
- Australia (11.2K tons)
- India (6.0K tons)
- New Zealand (2.1K tons)
- Indonesia (1.9K tons)
- Netherlands (0.9K tons)
Onion Exports in Thailand
In 2022, shipments abroad of onions (dry) decreased by -9.8% to 20K tons for the first time since 2018, thus ending a three-year rising trend. Overall, total exports indicated resilient growth from 2019 to 2022: its volume increased at an average annual rate of +14.5% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.0% against 2019 indices. The pace of growth appeared the most rapid in 2020 when exports increased by 41% against the previous year.
In value terms, onion exports reduced remarkably to $13M in 2022. In general, total exports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +8.2% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 54%.
Export of Onion in Thailand (Million USD) | |||||
---|---|---|---|---|---|
COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
Malaysia | 2.5 | 4.8 | 3.9 | 4.0 | 17.0% |
Taiwan (Chinese) | 0.1 | 0.1 | 0.2 | 2.2 | 180.2% |
Singapore | 1.8 | 2.7 | 2.3 | 1.7 | -1.9% |
Japan | 1.3 | 1.0 | 1.1 | 1.3 | 0.0% |
Vietnam | N/A | 0.4 | 1.3 | 1.1 | 65.8% |
South Korea | 0.8 | 1.1 | 1.2 | 0.8 | 0.0% |
Sri Lanka | 1.4 | 3.5 | 4.2 | 0.4 | -34.1% |
Indonesia | 0.2 | 0.2 | 0.1 | 0.2 | 0.0% |
Others | 1.7 | 1.6 | 1.2 | 0.9 | -19.1% |
Total | 10.0 | 15.4 | 15.4 | 12.6 | 8.0% |
Top Export Markets for Onion from Thailand in 2022:
- Malaysia (6.6K tons)
- Taiwan (Chinese) (6.0K tons)
- Vietnam (2.8K tons)
- Singapore (2.2K tons)
- Japan (1.0K tons)
- Indonesia (0.6K tons)
- Sri Lanka (0.4K tons)
- South Korea (0.3K tons)
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