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Thai food export this year to reach a trillion baht


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Thai food export this year to reach a trillion baht

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BANGKOK: -- Thai food exports are expected to hit one trillion baht level by the end of the year, Phetchara Chinnabut, director of the National Food Institute (NFI), said.

He revealed the export value during a joint press conference held on Tuesday by the NFI, the Board of Trade of Thailand and the Federation of Thai Industries.

He said food exports during the first 10 months increased to 851.2 billion baht, or 11.5% over the first ten months of last year.

Based on the growth, the entire year could see export value of 1.01 trillion baht or a 15.4% rise from the previous year’s value.

This would be the first time that Thailand has exported as much as a trillion baht in food, Mr Phetchara said.

He said the final quarter of this yea could see large growth attributing to importers stocking up processed foods for resale during the winter and the year-end holiday seasons.

But he said baht depreciation is also a boon to exports during the said period.

He added that potential export markets next year are China, Vietnam, the United Arab Emirates and Russia.

Source: http://englishnews.thaipbs.or.th/thai-food-export-year-reach-trillion-baht

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-- Thai PBS 2014-12-17

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Food exports expected to hit 1 trillion baht as first 10 months' value grew 11.5%

BANGKOK, 17 December 2014 (NNT) – Organizations within the agriculture and food industries have expressed their confidence in Thailand's food exports breaking the 1 trillion baht threshold by the end of the year, after the the export value was found to have grown 11.5% over the first ten months of the year.


Mr. Phetchara Chinnabut, director of the National Food Institute (NFI), expressed the belief during a joint press conference held on Tuesday by the NFI, the Board of Trade of Thailand and the Federation of Thai Industries. The agencies have found that food exports during the first 10 months increased to 851.2 billion baht. Based on the figure, the agencies projected that the entire year's export value would reach 1.01 trillion baht. This would be a 15.4% expansion from the previous year's value; it would also the first time that Thailand has exported as much as a trillion baht in food.

Mr. Phetchara said a large expansion in food exports is expected over the final quarter of the year, as importers stock up on processed food items for resale during the winter and the year-end holiday seasons. The depreciation of the baht is also expected to be a boon to exports during the said period.

Sales value of most export food items have increased in the past ten months save for sugar and canned pineapples, which have declined.

Mr. Phetchara added that export destinations with good growth potential in 2015 included China, Vietnam, the United Arab Emirates and Russia.

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-- NNT 2014-12-17 footer_n.gif

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If the Russian economy continues to implode, foods imports from any nation will become very expensive. Thailand may not benefit from a cheaper baht in that case. China remains Thailand's best export target, particularly if Thailand isolates itself politically from Western trading partners.

BUT the Chinese economy is trending towards a possible deflation (see Russian economy) and the China tends towards batering with nations that have relatively small volume exports to China as its yuan has no international market. Batering for Thai commodities may do little to promote Thailand's GDP growth.

Thailand needs to diversify its export trade partners and that may require less cultural and societal regidity.

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Amazing that Thailand seems to be so rich, yet so many living in poverty. This must make Thais feel so proud.

But on the other side some Thais are so rich, that it is almost impossible to imagine. Often policemen......

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Amazing that Thailand seems to be so rich, yet so many living in poverty. This must make Thais feel so proud.

The profits are made by the middlemen and the exporters who are often one and the same.

Who would else should make the profit ? The guys in their hammock waiting for a job offer ?

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Who would eat Thai export prawns, might as well eat sh*t.

Squid, well that's a different matter, haven't worked out how to farm them yet.

Yah, my wife and her friends think shrimp here is great, but I haven't had any that I liked.

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