Thailand Dominates World Agricultural Markets Despite Challenges

Revenues Reach $52.19 Billion

Thailand solidified its position as a global agricultural powerhouse in 2024, with exports totaling $52.19 billion, a 5.9% rise from the previous year. Agricultural products grew by 7.5% to $28.83 billion, while agro-industrial products increased 4.1% to $23.36 billion, reinforcing Thailand’s role as the “Kitchen of the World.”

Cassava Starch Tops Rankings

57% Global Market Share

Thailand’s cassava starch exports climbed 8.86% to $1.61 billion, capturing 57% of the $2.83 billion global market despite a 2.59% contraction. This robust performance underscores Thailand’s competitive edge in this sector, maintaining its leadership amid challenging market conditions.

Durian Exports Face Decline

Still Holds 54.2% Market Share

Durian exports dropped 5.87% to $3.82 billion, yet Thailand retained a 54.2% share of the $7.04 billion global market, which grew 7.27%. The decline signals a need for strategic adjustments to sustain Thailand’s dominance in this high-demand fruit category.

Coconut Exports Lose Ground

37.2% Share in Growing Market

Fresh or dried coconut exports fell 23.68% to $226.2 million, securing a 37.2% share of the $607.6 billion global market, up 12.19%. Thailand’s slipping position highlights the urgency of enhancing competitiveness to capitalize on rising global demand for coconuts.

Rubber Sees Robust Growth

31.3% of Global Market

Natural rubber exports surged 37.26% to $4.97 billion, claiming a 31.3% share of the $15.89 billion global market, which grew 26.13%. Thailand’s outperformance reflects its strengthening position in this sector, driven by strong demand and favorable market trends.

Canned Pineapple Performs Well

30.8% Market Share Achieved

Canned pineapple exports rose 7.14% to $325.6 million, capturing 30.8% of the $1.06 billion global market, up 5.86%. Thailand’s above-average growth in this category demonstrates its ability to meet global demand with high-quality processed fruit products.

Processed Chicken Gains Traction

25.6% Share in Expanding Market

Exports of processed chicken increased 8.12% to $2.94 billion, securing a 25.6% share of the $11.46 billion global market, which grew 6.07%. Thailand’s competitive poultry sector continues to thrive, bolstered by rising international appetite for its products.

Canned Tuna Surges Ahead

25.5% of Global Exports

Canned tuna exports jumped 20.15% to $2.49 billion, holding a 25.5% share of the $9.76 billion global market, up 15.04%. Thailand’s strong growth outpaced global trends, reinforcing its leadership in this key agro-industrial segment.

Market Share Losses Noted

Whole Coconuts Drop to Second

Thailand lost its top spot in whole coconut exports, falling 38.94% to $92.2 million for a 27.1% share, trailing Indonesia’s 33.4%. Similar declines in fresh cassava roots and cassava flour, now second to Cambodia and Peru, signal challenges in maintaining global leadership.

Call for Urgent Action

Enhancing Competitiveness Critical

Despite overall growth, Poonpong Naiyanapakorn, TPSO Director, stressed the need to address declining yields and boost product standards. Stakeholders must act swiftly to preserve Thailand’s export base, explore new markets, and prevent long-term revenue losses in key agricultural sectors.