Thai food exports show strong growth despite El Nino

Thai food exports show strong growth despite El Nino

วันที่นำเข้าข้อมูล 22 Dec 2023

วันที่ปรับปรุงข้อมูล 22 Dec 2023

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Thailand's food exports are still proving to be tasty in foreign markets as shipments of food and commodities rose by 4.6 percent during the first nine months of the year, defying forecasts of a slowdown because of the drought-producing El Nino weather phenomenon.

El Nino, in fact, has benefited the Kingdom this year, creating conditions in some markets that have produced higher demand for Thailand's food exports. Across South and Southeast Asia, droughts have dealt blows to agricultural production, compelling countries to source more food from offshore, including from Thailand.

Agriculture and food are Thailand’s national strength. The Kingdom is Asia's only net food exporter, and contributes to regional and global food security. With government support, the sector is also undergoing a transformation to higher-value and value-added goods while incorporating technology for smart farming to produce higher yields.

"Government policies, consumer demand and improved farm management are driving factors, contributing to the positive trajectory," The Nation newspaper wrote. "Thailand's food industry has remained robust, increasing its share in the global food market to 2.47 percent from last year's 2.25 percent."

Anong Paijitprapapon, Executive Director of the Industry Ministry's National Food Institute, said Thailand is now the 12th-largest food exporter in the world.

Demand from China and countries in Southeast Asia drove a notable increase in orders for fresh fruits, rice and sugar. On the other hand, weaker economic performance in China and Japan caused them to import less food from Thailand.

One factor that has helped Thai food exports, and its exports in general, has been the lower trading level of the Kingdom's currency, the Baht, which has in turn made Thai products a bigger bargain for overseas buyers.

Source: Royal Thai Embassy, Washington D.C.