Thailand's vegetable oil export volume has fluctuated significantly over the past decade. Starting from 410.0 thousand metric tons in 2014, the export volume dropped sharply in 2015 and 2016, before experiencing a steep increase in 2017. The following years displayed a general upward trend, with a minor dip in 2019 and 2020. By 2023, the export volume stood at 689.0 thousand metric tons, showing a 2.84% year-on-year increase, and a 1.49% CAGR over the last five years.
Looking ahead, the forecasted data predicts steady growth, with a 2.12% CAGR from 2023 to 2028, culminating in an export volume of 788.68 thousand metric tons by 2028. This represents a total 11.08% growth over the five-year period.
Future trends to watch for include:
- Global demand shifts due to economic cycles or geopolitical factors.
- Changes in trade policies or tariffs that may impact exports.
- Technological advancements in agricultural practices potentially influencing yield and export capacity.
