Thailand
Thailand: Food exports forecast to grow 10.8%
Thailand’s food exports are expected to fare better than earlier projected, fuelled by the world’s economic recovery, abundant raw materials and more value-added food items.
Speaking at Thaifex-World of Food Asia 2017, one of the largest regional food and beverage trade fairs which is being held until June 4, Deputy Prime Minister Somkid Jatusripitak said Thai food exports are expected to grow by 10.8% this year to US$26.6 billion (900 billion baht)
Earlier in the year, the government projected overall exports would grow by 5%.
Thailand shipped $24 billion of food last year, making it the largest food exporter in Asean and the 12th largest worldwide.
Strong exports of rice, processed chicken meat, canned seafood products, semi-cooked and frozen shrimp and seasoning items contributed to growth in 2016.
Mr Somkid said Thailand’s trade partners have also gained greater confidence in Thai food safety and labour protection measures, while Thai food is popular among international consumers.
The government is also trying its best to promote more innovative food products with added-value.
He said the government has the ambitious plan of turning Thailand into a global centre of food research and development.
“The government is promoting investment in the Eastern Economic Corridor, which focuses on the use of high-technology and innovations in the industrial development,” said Mr Somkid. “And food is one of 10 targeted industries the government aims to promote.
He said the Thai food industry will further transition toward functional food and health food products to add value.
Mr Somkid has directed the Commerce Ministry to develop more retail distribution channels and promote online shopping as well as improve the logistics systems.
“Boosted by higher food shipments and the global economic recovery, the government is confident that Thailand’s overall exports will grow by 5% this year,” he said.
Meanwhile, Commerce Minister Apiradi Tantraporn said the ministry has been trying to build up global consumer confidence and create a good image for Thai products while strengthening the competitiveness of Thai entrepreneurs, notably small and medium-sized enterprises.
Source: http://www.bangkokpost.com/business/news/1260114/food-exports-forecast-to-grow-10-8-