Thailand tops global agricultural exports with durian and coconut
BANGKOK: Thailand remains a global leader in agricultural exports, with durian, cassava, and coconut generating strong revenues, though some products show signs of slowing.
Poonpong Naiyanapakorn, Director of the Trade Policy and Strategy Office (TPSO) and spokesperson for the Ministry of Commerce, has reported that Thailand's agricultural and agro-industrial exports in 2024 totalled US$52.19 billion (THB1.8358 trillion), marking a 5.9% increase from the previous year.
This comprises agricultural products worth US$28.83 billion (THB1.0146 trillion), up 7.5%, and agro-industrial products worth US$23.36 billion (THB821.21 billion), up 4.1%.
Several Thai agricultural and agro-industrial products recorded the highest export values in the world, reinforcing Thailand's readiness to serve as the 'Kitchen of the World'.
The top Thai products ranked first globally by export market share were:
Cassava starch:
Thailand exported cassava starch worth US$1.61 billion, an 8.86% increase year-on-year.
This accounted for 57% of the global cassava starch export value of US$ 2.83 billion, even as the overall global market contracted by 2.59%.
This highlights Thailand's strength and competitiveness in this product category.
Durian:
Durian exports totalled US$3.82 billion, down 5.87% from the previous year.
However, Thailand retained a 54.2% share of the global durian market, which was valued at US$7.04 billion and expanded by 7.27%.
The divergence in trends signals that Thailand must adapt swiftly to maintain its leadership in this growing market.
Thailand tops global agricultural exports with durian and coconut
Fresh or dried coconuts:
Exports reached US$226.2 million, a decline of 23.68% from the previous year. Thailand held a 37.2% share of the global coconut export market, which grew by 12.19% to US$607.6 million.
This indicates that Thailand is losing ground and must take urgent steps to enhance competitiveness.
Natural rubber:
Thailand exported rubber valued at US$4.97 billion, a robust 37.26% year-on-year growth.
This gave Thailand a 31.3% share of the global rubber export market, which was worth US$15.89 billion and grew by 26.13%.
The figures confirm Thailand's improving position in this sector, with export growth outpacing the global average.
Canned pineapple:
Thailand exported canned pineapple worth US$325.6 million in 2024, marking a 7.14% increase from the previous year.
The country captured 30.8% of the global canned pineapple export market, valued at US$1.06 billion.
Global exports grew by 5.86%, underscoring Thailand's stronger-than-average performance.
Processed chicken:
Exports of processed chicken reached US$2.94 billion, up 8.12% from the previous year.
Thailand secured a 25.6% share of the global market, which totalled US$11.46 billion.
Global growth in this category stood at 6.07%, indicating Thailand's continued competitiveness and rising demand for Thai poultry.
- Photo: The Nation/ANN
Canned tuna:
Thailand exported canned tuna worth US$2.49 billion, representing a strong 20.15% year-on-year increase.
With a 25.5% share of the global canned tuna market – valued at US$9.76 billion – Tapioca-based products (dextrins and modified starches):
Exports in this category totalled US$944.5 million, a 2.32% rise from the previous year.
Thailand held a 20.9% share of the global market, which declined by 3.9% to US$4.51 billion.
The figures demonstrate Thailand's resilient position amid global market contraction.
Dried, salted, brined or smoked shrimp and crayfish:
Thailand exported US$49.5 million of these products in 2024, up 18.42% from the previous year.
This accounted for 19.7% of the global market, which shrank by 3.08% to US$251.5 million.
The contrasting trends highlight Thailand's niche strength in this category.
Fresh or chilled shrimp and crayfish:
In contrast, exports of fresh or chilled shrimp and crayfish dropped by 3.11% to US$90.4 million. Thailand maintained a 17.7% share of the global market, valued at US$511.2 million, which declined at a slower pace of 1.45%.
The figures indicate a need for Thailand to enhance its competitiveness in this segment.
Thailand has also begun to lose market share in several key agricultural exports that previously held the top global position in 2023 but dropped to second place in 2024.
Whole coconuts (in shell):
Thailand exported US$92.2 million worth of whole coconuts in 2024, a sharp contraction of 38.94% from the previous year.
This gave Thailand a 27.1% share of the global market (valued at US$339.8 million), ranking second after Indonesia, which captured 33.4%. In 2023, Thailand led the market with a 44.8% share.
Fresh cassava roots and cassava pellets:
Exports in this category fell dramatically by 57.65% to US$480 million, with Thailand holding a 24.9% share of the global market (US$1.93 billion), placing second behind Cambodia.
Cambodia now leads with 35.8%, while Thailand had a 41.4% share in 2023.
Cassava flour:
Thailand's cassava flour exports stood at US$25.5 million, down 14.48% year-on-year.
The country's global market share dropped to 19.1%, just behind Peru's 19.2%. In 2023, Thailand was the global leader in this segment with a 21.4% share.
Despite the overall growth in Thailand's agricultural and agro-industrial exports in 2024, the data show that some once-dominant products are now facing decline, including durian, fresh or dried coconut, and fresh/chilled shrimp and crayfish — all of which saw drops in export value.
Poonpong reiterated that agricultural and agro-industrial products remain vital to Thailand's economy, generating significant income with continued growth potential.
However, he stressed that despite the positive outlook, all stakeholders must urgently work to enhance Thailand's agricultural sector to maintain global leadership and prevent long-term revenue loss.
Priority actions include addressing significant drops in crop yields, raising product standards to improve competitiveness, preserving existing export bases, and exploring new high-potential markets.
Thailand outperformed the global growth rate of 15.04%. - The Nation/ANN
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