1、THAILAND INDUSTRY OUTLOOK 2022-24PALM OIL INDUSTRYKrungsri ResearchJuly 2022All material presented in this report,unless specifically indicated otherwise,is under copyright to Krungsri Research.None of the material,nor its content,nor any copy of it,may be altered in anyway,or copied to any other pa

2、rty,without the prior express written permission of Krungsri Research.This document is based on public information believed to be reliable.Nevertheless,Krungsri Research would not affirm the accuracy and completeness of this information.We accept no liability whatsoever for any direct or consequenti

3、al loss arising from any use of this document or its content.Information,opinions and estimates contained in this report are our own,which are not necessarily the opinions of Bank of Ayudhya Public Company Limited and its affiliates.It reflects a judgment at its original date of publication by Krung

4、sri Research and are subject to change without notice.DisclaimerFor research subscription,Subscribe UsAuthorChaiwat SowcharoensukA+662 296 2000 Ext.50880EXECUTIVE SUMMARY3Krungsri ResearchOverall,Thai palm oil industry is expected to see improving conditions through 2022.Supply is benefitting from a

5、n expansion in the area under cultivation,the positive incentive provided by strong prices,and better climatic conditions that improved yields,while demand is being lifted by worries over food security that were prompted first by the COVID-19 pandemic and then by the war in Ukraine,which has boosted

6、 export orders.However,a softening of demand in downstream industries has undercut distribution to the Thai market.Nonetheless,both domestic and overseas demand is forecast to strengthen over 2023 and 2024.This will come especially from players in the food and oleochemical industries,which will enjo