Sulphates; of Magnesium Price in Thailand - 2023
Contents:
- Sulphates; of Magnesium Price in Thailand (CIF) - 2022
- Sulphates; of Magnesium Price in Thailand (FOB) - 2022
- Sulphates; of Magnesium Imports in Thailand
- Sulphates; of Magnesium Exports in Thailand
Sulphates; of Magnesium Price in Thailand (CIF) - 2022
The average sulphates; of magnesium import price stood at $191 per ton in 2022, dropping by -9.9% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.3%. The most prominent rate of growth was recorded in 2021 when the average import price increased by 27%. As a result, import price reached the peak level of $211 per ton, and then dropped in the following year.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($272 per ton), while the price for China stood at $165 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+4.1%).
Sulphates; of Magnesium Price in Thailand (FOB) - 2022
In 2022, the average sulphates; of magnesium export price amounted to $1,340 per ton, surging by 40% against the previous year. In general, the export price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2016 an increase of 76% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.
There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Vietnam ($3,393 per ton), while the average price for exports to Japan ($933 per ton) was amongst the lowest.
From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (+11.3%), while the prices for the other major destinations experienced more modest paces of growth.
Sulphates; of Magnesium Imports in Thailand
In 2022, approx. 55K tons of sulphates; of magnesia were imported into Thailand; with a decrease of -5.8% against 2021 figures. The total import volume increased at an average annual rate of +1.0% over the period from 2019 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 13% against the previous year. As a result, imports attained the peak of 58K tons, and then dropped in the following year.
In value terms, sulphates; of magnesium imports reduced rapidly to $10M in 2022. Over the period under review, total imports indicated strong growth from 2019 to 2022: its value increased at an average annual rate of +6.9% over the last three years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.0% against 2019 indices. The pace of growth was the most pronounced in 2021 when imports increased by 44% against the previous year. As a result, imports attained the peak of $12M, and then shrank significantly in the following year.
| Import of Sulphates; of Magnesium in Thailand (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 5.6 | 5.3 | 8.3 | 7.0 | 7.7% |
| Germany | 2.7 | 2.9 | 3.7 | 3.1 | 4.7% |
| Others | 0.2 | 0.3 | 0.3 | 0.3 | 14.5% |
| Total | 8.5 | 8.5 | 12.3 | 10.4 | 7.0% |
Top Suppliers of Sulphates; of Magnesium to Thailand in 2022:
- China (42.4K tons)
- Germany (11.5K tons)
Sulphates; of Magnesium Exports in Thailand
In 2022, approx. 10 tons of sulphates; of magnesia were exported from Thailand; waning by -63.7% compared with the previous year's figure. In general, exports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2021 when exports increased by 5,493%. As a result, the exports attained the peak of 29 tons, and then reduced sharply in the following year.
In value terms, sulphates; of magnesium exports reduced rapidly to $14K in 2022. Overall, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2021 with an increase of 5,479%. As a result, the exports reached the peak of $28K, and then contracted dramatically in the following year.
| Export of Sulphates; of Magnesium in Thailand (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Lao People's Democratic Republic | 0.3 | 0.4 | 17.3 | 9.7 | 218.6% |
| Vietnam | N/A | N/A | 0.9 | 3.5 | 288.9% |
| Japan | N/A | 0.1 | N/A | 0.9 | 200.0% |
| Sri Lanka | N/A | N/A | 5.9 | N/A | 0% |
| Myanmar | 2.8 | N/A | N/A | N/A | 0% |
| Maldives | 0.3 | N/A | 2.2 | N/A | 170.8% |
| Others | N/A | N/A | 1.3 | N/A | 0% |
| Total | 3.4 | 0.5 | 27.6 | 14.1 | 60.7% |
Top Export Markets for Sulphates; of Magnesium from Thailand in 2022:
- Lao People's Democratic Republic (8.5 tons)
- Japan (1.0 tons)
- Vietnam (1.0 tons)
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