Saturday, 20/02/2021 16:47 (GMT+7)
Thailand’s food exports are forecast to recover to 7.1 percent growth this year, fetching 1.05 trillion THB (35 billion USD), driven by growing demand in the global market.
The anticipated rise in farm and food prices, especially for chicken, sugar, tapioca products and pineapples, as well as Thailand's strict safety and supervisory measures to prevent the spread of the virus and food contamination, are factors in the food export prediction, according to the Board of Trade, the National Food Institute and the Federation of Thai Industries (FTI).
The anticipated rise in farm and food prices, especially for chicken, sugar, tapioca products and pineapples. (Photo: Bangkok Post)
FTI president Anong Paijiprapapon said food exports tallied 980 billion THB last year, down 4.1 percent from the previous year, with shipments in dollar terms equivalent to 31.3 billion USD, down 5.1 percent.
Lower exports led Thailand's share of the world food market to drop to 2.32 percent last year from 2.49 percent in 2019. Thailand's food exporter ranking in the world fell to 13th from 11th the year before.
According to Anong, Thailand’s food exports only grew to China, the US and Oceania, with outbound shipments to China amounting to 180 billion THB, up 18.1 percent, with those to the US up 12.2 percent to 119 billion THB, and Oceania up 1.7 percent to 33.1 billion THB.
Exports to other markets, particularly Africa, ASEAN, Europe, the Middle East and North Africa, and the United Kingdom all fell, she said.
China is Thailand's top food export market, accounting for 18.3 percent of the total, followed by CLMV (Cambodia, Laos, Myanmar and Vietnam) at 13.9 percent, and Japan at 12.7 percent.
Anong said apart from the pandemic impact, food exports last year also struggled with the stubborn baht strength, a container shortage and higher transport costs./.
CPV (Source: VNA)