Thai food exports to grow despite economic slowdown

[webfact]

Thai food exports to grow despite economic slowdown

 

 

BANGKOK, 19th December 2016 (NNT) – Thai food exports are expected to perform better next year amid an economic downturn, says the National Food Institute (NFI). 

Nuttapon Nimmanphatcharin, the deputy director of the National Food Institute, NFI, said Thailand in 2016 exported 972 billion baht's worth of food, representing a 7% growth year-on-year. The revenue puts Thailand at number 13 among world’s biggest food exporters. 

The ASEAN market accounts for up to 28.4% of Thai food exports, followed by Japan at 13.9%, and America at 11.9%. 

The deputy director forecast that Thailand will continue to experience growth in food exports next year despite a domestic and global economic slowdown. The factors contributing to the expected growth are buyers’ confidence and the country’s efforts to clamp down on illegal fishing. 

Despite the optimism, there remain some risk factors including the expected new economic policies of the United States, and economic uncertainty in Europe and China.

 

-- nnt 2016-12-19

[bark]

7 % of nothing is how much ?

Thailand is not a big player in the export world.

[ExpatOilWorker]

NFI must be Nuttapon 's Future Information, I still have 12 days left of 2016 before I can add up the numbers and close my budget.

[HiSoLowSoNoSo]

That's good news for many of the poor farmers in Thailand. Hopefully their products will pass International Labour and health standards.

[Srikcir]

6 hours ago, webfact said:

The revenue puts Thailand at number 13 among world’s biggest food exporters. 

That's gross revenue, not net profits.

For Thai farmers (excepting sea food fisheries), global market prices have substantially dropped over the last 3 years to the extent that farmers can't sustain adequate profit margins except through government subsidies from the current and past administrations.

Add to that the additional risks from "expected new economic policies of the United States, and economic uncertainty in Europe and China" and there is little reason to be optimistic.

[elgordo38]

And the winner of the global forecasters award for  2017 is..................................

[elgordo38]

Its a bird its a plane no its Superagro.