Potato market in Thailand

Earlier Report Observations

The Thai fresh potato market began the period with a notable expansion in domestic cultivation, driven by snack industry investment. In 2018, PepsiCo significantly increased its contracted potato farming area for chip production, which boosted agricultural output and supported the growing snack sector. This contributed to a rise in overall market volume, which grew from 177 thousand tons in 2018 to 190.5 thousand tons in 2020, while domestic production peaked at 127.9 thousand tons in 2019.

Following the initial growth, market volume stabilized at a high level, reaching 193.2 thousand tons in 2022, despite a multi-year decline in domestic production after 2019. This stability was maintained through increased imports, which compensated for lower local output. The market then contracted to 179.5 thousand tons in 2023, coinciding with a partial recovery in production to 120.5 thousand tons.

By 2024, external demand factors gained prominence, with Thai potato exporters benefiting from strong price premiums from March to April due to increased demand from China and Japan. A concurrent 15% drop in raw potato input costs further improved exporter margins, indicating a shift in market dynamics toward external trade opportunities amidst the continued expansion of the domestic salty snack segment.

Production potato in Thailand

In kind, 2017-2020, K t

Top producers of potato, 2017-2020

World map of production of potato, 2017-2020

Thailand's potato production saw a two-year increase before declining. In 2020, production reached 126.9 K t, marking a slight drop of 0.8% compared to 2019. Over the period from 2017 to 2020, production grew by 18.5%, which translates to an annualized rate of 5.8%. The peak was recorded in 2019 at 127.9 K t, with the largest annual increase of 18.1% also occurring that year.

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

Exports potato from Thailand

Exports in kind, t

The market displayed volatility during the observed period. Export volumes hit their lowest point in 2019 at 4 t and peaked in 2017, with a dramatic 42-fold difference between these extremes. In 2020, Thailand exported 111 t of potatoes, representing a sharp rise of 2,892.2% compared to 2019. The largest decline was recorded in 2018 at 89.8%.

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

From 2017 to 2020, the top buyers of Thai potatoes were Sri Lanka, accounting for 24.9% of exports in kind, Cambodia at 23.1%, and the United States at 13.7%. Together, these three countries made up 61.6% of Thailand's total potato exports in kind.

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

The market trend was unstable throughout the timeframe. Export values bottomed in 2019 at 6 K $ US and peaked in 2020, showing a 29-fold difference. In 2020, Thailand's potato exports totaled 166 K $ US, indicating a significant improvement of 2,833.0% over the previous year. The largest decline occurred in 2019 at 82.4%.

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

Over the 2017–2020 period, Sri Lanka, with 25.7% of exports in value terms, the United States at 18.6%, and Hong Kong at 14.6% were the main destinations, collectively absorbing 58.9% of Thailand's total potato export value.

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

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

Imports potato to Thailand

Imports in kind, t

Thailand imported 63 711 t of potatoes in 2020, which is 19.4% higher than in 2019. The minimum value was recorded in 2019 at 53 360 t, while the maximum was in 2018 at 68 680 t. The largest decline occurred in 2019 at 22.3%.

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

During 2017–2020, China and Germany dominated Thailand's potato imports in kind, with China contributing 52.9% and Germany 39.7% of total flows. Together, they accounted for 92.6% of imports, while other partners made up the remainder.

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

After a two-year decline, foreign potato supplies to Thailand increased. In 2020, imports totaled 26 436 K $ US, constituting a steep rise of 56.1% compared to 2019. From 2017 to 2020, imports decreased by 6.7%, equating to an annualized rate of 2.3%. The minimum value was recorded in 2019 at 16 938 K $ US, with the largest decline that year at 39.8%.

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

In 2017–2020, China, Germany, and Canada were consistently the main sources for Thailand's potato imports in value terms, with shares of 39.1%, 35.2%, and 17.2%, respectively. Together, they accounted for 91.5% of total import flows.

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

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