Manya Rathore
Research expert covering India
Palm oil industry in Thailand - statistics & facts
While Thailand ranks third in global palm oil production, the country’s influence on global prices is modest. At the top of the ranking, the Indonesian and Malaysian palm oil industries are the main exporters to global markets; but with Thailand’s economy on the path to recovery, particularly in the tourism and restaurant industry, the demand for palm oil is expected to increase.
Nearly half a million households cultivate oil palm nationwide, with small-scale growers making up the majority of the sector's workforce. When compared to other oil crops, including rapeseed, sunflower, and olive, palm oil gives substantially higher yields, making it the least expensive vegetable oil to manufacture. Due to the low manufacturing costs, palm oil is the most produced vegetable oil in the country.
