Maize flour and cereals market in Thailand

Earlier Report Observations

The market for maize flour and cereals in Thailand expanded significantly, from 227 thousand tons in 2018 to 349 thousand tons in 2021. This strong growth phase was primarily driven by a surge in demand during the COVID-19 pandemic, as consumer behavior shifted towards more home cooking and baking. Concurrently, government policy adjustments to control feed corn imports, aimed at managing domestic stockpiles and prices, influenced the raw material landscape for processors.

The market volume receded to 320 thousand tons in 2022, aligning with the implementation of stricter controls on feed corn imports. The sector was simultaneously shaped by the launch of new, higher-yielding maize seed varieties and a growing consumer trend towards organic products. A shift in distribution towards online platforms and local markets also altered the market landscape, before volumes stabilized at 322 thousand tons in 2023.

Production maize flour and cereals in Thailand

In kind, 2017-2020, K t

Top producers of maize flour and cereals, 2017-2020

World map of production of maize flour and cereals, 2017-2020

Thailand's maize flour and cereals production has increased for the third consecutive year. In 2020, the country produced 481.2 K t of maize flour and cereals, marking a 22.8% year-over-year rise. From 2017 to 2020, production grew by 47%, with a compound annual growth rate (CAGR) of 13.7%.

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

In value, 2017-2020, M $ US

Thailand's maize flour and cereals production has increased for the third consecutive year. In 2020, the output was valued at 520.9 M $ US, showing a steep increase of 34.5% compared to the previous year. Between 2017 and 2020, production rose by 72.4%, equating to an annualized rate of 19.9%.

Annual dynamics of production in Thailand in value, 2017-2020, M $ US

Exports maize flour and cereals from Thailand

Exports in kind, K t

After a two-year increase, maize flour and cereals export volumes from Thailand declined. In 2020, export volume amounted to 159.5 K t, representing a slight decline of 2.6% year-over-year. Between 2017 and 2020, exports increased by 13.5%, with an annualized rate of 4.3%. The maximum volume was recorded in 2019 at 163.8 K t, while the largest increase occurred in 2018 at 13.4%.

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

The structure of exports in kind from 2017 to 2020 can be described as diversified. Japan (12.8% of exports in kind), China (12.6% of exports in kind), and Malaysia (10.1% of exports in kind) together accounted for just 35.5% of total flows, with no single country holding a clearly dominant position.

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, M $ US

Thailand's maize flour and cereals export value has increased for the third consecutive year. In 2020, exports amounted to 172.7 M $ US, representing a limited increase of 6.7% compared to 2019. Over the period 2017-2020, exports grew by 33.1%, with a CAGR of 10.0%.

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

From 2017 to 2020, exports in value terms of maize flour and cereals from Thailand relied on a wide range of partner countries. Japan (13.8% of exports in value terms), China (12.6% of exports in value terms), and Malaysia (10.2% of exports in value terms) together accounted for just 36.7% of total 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 maize flour and cereals to Thailand

Imports in kind, K t

There were noticeable fluctuations in import volumes during the period. The lowest imports were recorded in 2019 at 5.6 K t, while the highest were in 2020 at 13.6 K t, reflecting a 2.4-fold gap. In 2020, cross-border shipments of maize flour and cereals to Thailand amounted to 13.6 K t, equivalent to a steep advance of 140.4% compared to the previous year. The largest decline occurred in 2019 at 35.4%.

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

Throughout 2017 to 2020, the United Kingdom (50.2% of imports in kind), India (20.6% of imports in kind), and France (17.4% of imports in kind) formed the core group of markets for imports in kind, together representing 88.2% 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, M $ US

There were noticeable fluctuations in import values during the period. The lowest imports were recorded in 2019 at 4.0 M $ US, while the highest were in 2020 at 9.3 M $ US, differing by a 2.3 multiple. In 2020, Thailand's maize flour and cereals imports totalled 9.3 M $ US, which is 131.8% more than in 2019. The largest decline occurred in 2019 at 35.2%.

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

Throughout 2017 to 2020, the United Kingdom (52.5% of imports in value terms), France (16.0% of imports in value terms), and India (10.3% of imports in value terms) formed the core group of markets for imports in value terms, together representing 78.8% 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