Bananas market in Thailand

Earlier Report Observations

The Thai banana market experienced notable volatility between 2018 and 2023. After steady initial growth, market volume surged to 1.4 million tons in 2020, the peak of the period. However, this was followed by two consecutive years of contraction before a moderate recovery in 2023, bringing the market to 1.33 million tons.

The significant market expansion in 2020 was driven by a government-led push to enhance Thailand's export competitiveness against Vietnam and Cambodia, focusing on quality improvements and marketing of 'Kluai Nam Wa' and 'Kluai Hom' varieties for key export markets like China and Japan. This period also saw the experimental planting of 150,000 banana trees to demonstrate cultivation in suitable areas, supporting increased production. The subsequent market recovery in 2023 stemmed from direct agricultural support, with the Department of Agricultural Extension promoting the cultivation of 'Kluai Hom' using precision management for water, fertilizer, and pest control to boost yields and quality. This was complemented by the promotion of 'Kluai Hom Thong' in new areas and the establishment of community enterprise groups to improve production efficiency.

Concurrently, market dynamics were influenced by trends in niche segments and technological upgrades. The 'Kluai Dang' (variegated banana) variety saw a sharp rise and fall in popularity and price between 2021 and 2022. Alongside this, efforts to improve product value and shelf life progressed, including the development of specialized packaging and the dissemination of solar drying technology to enhance the quality of dried bananas and banana chips.

Production bananas in Thailand

In kind, 2017-2020, K t

Thailand was among the world's leading banana producers from 2017 to 2020, ranking 19th globally by production volume during this period.

Top producers of bananas, 2017-2020

World map of production of bananas, 2017-2020

Banana production in Thailand increased for the third consecutive year. In 2020, Thailand produced 1 361 thousand tonnes of bananas, which was 4.9% higher than in 2019. Over the 2017-2020 period, production grew by 22.1%, with a compound annual growth rate of 6.9%.

Annual dynamics of production in Thailand in kind, 2017-2020, K t

Exports bananas from Thailand

Exports in kind, t

Banana exports from Thailand declined for the second consecutive year. In 2020, exports totaled 15 619 tonnes, marking a sharp decline of 34.5% compared to 2019. Over the 2017-2020 period, exports decreased by 46.6%, with a compound annual decline rate of 18.9%. The highest export volume was recorded in 2018 at 38 728 tonnes, which represented a 32.4% increase from the previous year. The largest decline occurred in 2019, with a drop of 38.4%.

Annual dynamics of product's exports from Thailand in kind, 2017-2020, t

From 2017 to 2020, China was the primary market for Thai bananas, accounting for 84.4% of total export volume, while other destinations made up a smaller portion.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Thailand in kind, 2017-2020

Exports in value, K $ US

Banana exports from Thailand declined for the second consecutive year. In 2020, exports amounted to 16 093 thousand US dollars, showing a dramatic drop of 34.7% compared to 2019. Over the 2017-2020 period, exports decreased by 17.6%, with a compound annual decline rate of 6.3%. The highest value was recorded in 2018 at 27 436 thousand US dollars, which represented a 40.5% increase from the previous year.

Annual dynamics of product's exports from Thailand in value, 2017-2020, K $ US

From 2017 to 2020, China (63.7% of export value), the United States (11.5% of export value), and Japan (7.5% of export value) were the main destinations for Thai banana exports in value terms, together accounting for 82.8% of total export flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Thailand in value, 2017-2020

Imports bananas to Thailand

Imports in kind, t

The market showed volatility during the observed period. Imports reached their lowest point in 2018 and peaked in 2020, with a 47-fold difference between these years. In 2020, Thailand imported 55 122 tonnes of bananas, reflecting an abrupt drop of 84.7% year-over-year.

Annual dynamics of product's imports to Thailand in kind, 2017-2020, t

From 2017 to 2020, Laos accounted for almost all banana imports to Thailand in volume terms, with a share of 98.6% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Thailand in kind, 2017-2020

Imports in value, K $ US

The data reveals irregular changes, indicating a volatile market environment. Imports were at their lowest in 2018 and reached their highest in 2020, with a 39-fold gap between these years. In 2020, Thailand imported 12 628 thousand US dollars worth of bananas, showing a decrease of 80.9% compared to the previous year.

Annual dynamics of product's imports to Thailand in value, 2017-2020, K $ US

Throughout 2017-2020, Laos was the key partner for banana imports to Thailand in value terms, accounting for 98.0% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Thailand in value, 2017-2020