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Industry Outlook Analysis

29 Jun 2022

Agriculture

Thailand is at risk of a tighter rice supply in 2022 amid lower rice production caused by soaring chemical fertilizer costs (Current Issue No.3328)

In 2022, Thailand may be at risk of a tighter rice supply, caused primarily by chemical fertilizer prices that have hit multiple record highs amid the Russia-Ukraine conflict. In contrast, there has been pent-up demand seen for rice, as evidenced by higher rice exports, which have in turn pressured... Read more

19 May 2022

Agriculture

Price of chemical fertilizer (urea) is set to stay at elevated levels of USD 950-1,000/ton because of tight supply, but the impact on each economic crop may vary (Current Issue No.3325)

Prices of chemical fertilizers in the country have hit successive record highs in line with their raw material costs and tight global supplies due to the impact of the Russia-Ukraine conflict. ... Read more

15 Mar 2022

Agriculture

Russia-Ukraine conflict drives up global wheat prices, and in turn food costs in Thailand (Current Issue No.3310)

The ongoing conflict between Russia and Ukraine, which are the world’s leading wheat exporting nations, has driven up global wheat prices to a record high that we have never seen in recent years. ... Read more

23 Feb 2022

Agriculture

Prices of Thai Oil Palm May Fall to THB4.5-6.5/Kg in 2Q22 in line with Seasonal Factors and Biodiesel Formula Adjustments (Current Issue No.3306)

KResearch is of the view that prices of Thai oil palm will stay at an elevated level of THB7.5-9.5/kg during 1Q22 in line with high global crude palm oil and energy prices. Meanwhile, an adjustment to the mixture of biodiesel to B5,... Read more

13 Jan 2022

Agriculture

Agricultural machinery 2022 to maintain growth with expected market value of THB 84.6-87.9 billion, bolstered by ample demand (Current Issue No.3301)

KResearch views that Thailand’s agricultural machinery market will continue to see expansion, with market value of THB 84.6-87.9 billion, or growth of 1.6-5.6 percent (YoY), mainly supported by ample demand. However, this growth may occur at a slower pace, due to easing pent-up demand and slower dem... Read more

13 Dec 2021

Agriculture

Rice Prices, 2022: Rising to THB8,900-9,400/Ton Amid Challenges...Government Policy is Still Crucial to Maintain Rice Prices (Current Issue No.3290)

KResearch is of the view that Thai rice prices will likely increase slightly during 2022 after having bottomed out in 2021. The marginal rise is due to the low base of 2021. Rice prices are projected to increase to a range of THB8,900-9,400/ton in 2022, representing a contraction of 1.6 percent to a... Read more

29 Oct 2021

Agriculture

2021 floods affect in-season rice...crop damage estimated at approximately THB6.3-8.4 billion (Current Issue No.3281)

KResearch has preliminarily assessed that the damage to the rice crop from flooding in September and October 2021 may amount to around THB 6.3-8.4 billion. Due to the effects of recent storms, many provinces in the northeastern, northern and central regions of Thailand are experiencing ongoing flood... Read more

28 Sep 2021

Agriculture

Kratom Plant: Challenges Lie in Uncertainty of Its Initial Demand (Current Issue No.3272)

Recently, Kratom or Mitragyna speciosa was removed from Thailand’s narcotics list. We at KResearch are of the view that successful commercialization of related Kratom products during an initial phase will not be smooth sailing, and will rest primarily with demand amid limited supply. ... Read more

3 Sep 2021

Agriculture

Meat expenditure in 2021 to rise 2.0% due to higher price and cost (Current Issue No.3261)

KResearch assesses that meat prices will remain high over the remainder of 2021, stemming from cost of disease prevention and control in humans and animals, increased cost of animal feeds, import charges that tend to remain high, and the Baht’s volatility. Given the prolonged COVID-19 outbreak and t... Read more

25 Aug 2021

Agriculture

Thai mangosteen exports to grow 14.6-18.8 percent in 2021...despite short-term supply disruption (Current Issue No.3259)

KResearch projects that, despite short-term supply disruption stemming from the COVID-19 outbreaks, Thai mangosteen exports could be valued at an estimated USD 540-560 million, or growth of 14.6-18.8 percent YoY, mainly from export prices. While Indonesia may have taken a greater share of the Chines... Read more

6 Aug 2021

Agriculture

Potential Crops that should be Promoted for the Processing of Plant-Based Alternative Protein Products to Ensure Sustainable Crop Supplies (Current Issue No.3253)

KResearch is of the view that Thailand has numerous crops that can be processed into plant-based protein foods of the future, namely green beans, sunflower sprouts, black sesame seeds, organic “Hom Mali” rice and straw mushrooms, based on the required analysis results. These include: 1) Such crops m... Read more

8 Jul 2021

Agriculture

Outlook for Thai agriculture in 2H21 indicates slow growth compared to the first half of the year (Current Issue No.3241)

KResearch has assessed that the overall Thai agricultural sector in 2H21 will likely grow at a slower rate compared to 1H21. This slowdown can be attributed to the prices of most agricultural products that are expected to decline due to the accelerated growth of farm output by 1.1-3.0 percent YoY. ... Read more

25 Jun 2021

Agriculture

Export value for Thai durian hits record high in May 2021; new record expected for full-year 2021 with accelerated growth of 35 - 40 percent (Current Issue No.3233)

Durian, the aptly-named ‘King of Fruits’, generates the highest revenue for Thailand out of all its fruit exports. Since 2014, the export value for durian has surpassed all other fruits, and just recently reached a monthly record high of USD 934.9 million in May 2021, with growth of 95.3 percent YoY... Read more

24 May 2021

Agriculture

AgriTech set to transform Thai agricultural sector; guidelines should be adopted for use of technology in small-scale operations (Current Issue No.3223)

While the use of agricultural technology or AgriTech in Thailand is still very much at its initial stage, KBank believes AgriTech will play a more prominent role in the country over the next 3 to 5 years, thanks to increasingly affordable technology and broader knowledge of its usage that becomes mo... Read more

8 May 2021

Agriculture

Agricultural Product Prices Likely be Pressured by Supply Glut and Sluggish Demand from COVID-19 during remainder of 2021 (Current Issue No.3220)

KResearch assesses that prices of most Thai agricultural products, including rice, rubber, cassava, oil palm and sugarcane, will decline during the remainder of 2021 due to the double shock from both a supply glut resulting from favorable climate conditions for crop cultivation and weakening domesti... Read more

23 Apr 2021

Agriculture

Hemp: Cash crop of the future under multiple conditions (Current Issue No.3211)

Hemp has the potential to become Thailand’s next cash crop with perceived utilization in downstream industries for varied purposes with high added-value. Meanwhile, the initial supply of hemp - once restrictions have been lifted - will likely hit the market in 4Q21, and is projected to see steady in... Read more

15 Mar 2021

Agriculture

Rice exports in 2021 to remain stable at 5.8-6.0 million tons amid ongoing challenges; jasmine rice best performer in export markets (Current Issue No.3195)

KResearch views that Thailand’s rice exports in 2021 will likely remain steady at around 5.8-6.0 million tons, or an estimated growth rate of 1.3-4.8 percent YoY. This rate is higher than the total growth of demand for rice in the global market, which stands at 1.7 percent. Jasmine rice exports to t... Read more

25 Feb 2021

Agriculture

Mild drought expected in 2021 though off-season rice may see decline in prices (Current Issue No.3192)

This year’s dry season (January – April 2021) is expected to be mild and will likely be less severe than 2020, based on the slight drop in dam levels by 7.3 percent YoY. So far, this decrease has been limited to reservoirs in western Thailand, whereas other regions are seeing higher water levels tha... Read more