Production value of oil palm Thailand 2013-2023

In 2023, the production value of oil palm in Thailand amounted to around 96.26 billion Thai baht, indicating a significant decrease compared to the previous year. In that same year, the production volume of oil palm in the country was forecast to reach approximately 18.27 million metric tons. Thailand ranks third in the global palm oil production rankings, behind two ASEAN nations, namely Indonesia and Malaysia.

 Oil palm production in Thailand 

Thailand's oil palm plantation area has been steadily expanding, with over six million rai of oil palm harvested and oil palm planted in the country in 2023. More than 80 percent of the total oil palm plantation is concentrated in the southern provinces of Thailand due to the geographical suitability for cultivation. India and Malaysia were the leading export destinations for Thai oil palm in 2023, with the export value to both countries exceeding two hundred million Thai baht.

 Palm oil consumption in the country 

  Crude palm oil, biodiesel, and refined palm oil are the most important products made from oil palm. Palm oil has numerous uses in Thailand’s food and chemical industries and is increasingly being used as a feedstock for biofuels. The production volume of oil palm in the country has somewhat increased with minor fluctuations over the years, in line with the country's gradual increase in palm oil consumption.