The food industry is connected from the local level, namely farmers, who are producers, to the industrial level, which is the processor. and international trade level They are exporters, so if one sector is affected, other sectors will suffer as well.
The food industry is connected from the local level, namely farmers, who are producers, to the industrial level, which is the processor. and international trade level They are exporters, so if one sector is affected, other sectors will suffer as well.
3 economic organizations in the field of agribusiness and food Consisting of the food and beverage industry group The Federation of Thai Industries (F.T.I.), the Thai Chamber of Commerce, and the Food Institute have interestingly told business directions amid various concerns, both economic and global politics.
Anong Paichitpraphapon Director of the Food Institute The Ministry of Industry Network Agency said that under the cooperation of 3 organizations, the Food Institute will collect information from all sectors. It was found thatExports of Thai food products in the first 9 months of 2023 are valued at 1.16 trillion baht, expanding by 4.6%. There is a supporting factor from the drought situation that has caused the production of agricultural and food products in many regions to decrease. Therefore, there is a demand for more food products to increase the amount of food reserves in the country. Especially the ASEAN and South Asian countries.
In the part of Thailand Even though the production of many Thai agricultural raw materials has decreased However, Thai export products benefit from increased global demand and prices due to the El Niño phenomenon that causes drought. Especially rice and sugar
Markets within the region such as China, the five former ASEAN countries, namely Malaysia, Indonesia, Philippines, Singapore, Brunei, and the CLMV countries, namely Cambodia, Lao PDR, Myanmar, and Vietnam, are the main markets that will result in the overall expansion of Thai food exports in 2023.
“Fresh fruit, rice and sugar. It is the main product with high export value growth. For the group of export products that shrank, most were affected.
Affected by the economic slowdown of main trading partners. Whether it is the United States, Europe, China, Japan, and the problem of agricultural raw materials that have decreased production and higher costs, such as cassava, pineapple, tuna, except for shrimp, which has a low price.”
As for the forecast for the whole year 2023, Thai food exports will have a value of 1.55 trillion baht, expanding by 5.5%, while evaluating trends in Thai food exports in 2024, both the production sector for domestic distribution and the production industry that Focus on export Manufacturing industry with a domestic market will expand significantly according to the new government’s economic stimulus policy.
Meanwhile, Thai food exports in 2024 are expected to be worth 1.65 trillion baht, expanding by 6.5%. There are supporting factors from the strong recovery of economies in developing countries and emerging markets in the service and tourism industries. Meanwhile, inflationary pressures began to ease after the authorities in various countries Tight monetary policy was used in the previous period.
“Thai food products benefit from partner countries’ concerns about food security. Similarly, the El Niño phenomenon causes agricultural production to decrease. The demand for food has increased. Including the baht being less volatile and still at a level that is conducive to the food industry, in 2024 the baht is expected to average 35.00 baht per dollar. Close to 2023 following the recovery of foreign tourists and Thailand’s current account balance. This is a level that will facilitate the export of Thai food products.”
Chanthanon Wannakhajorn, Secretary General of the Office of Agricultural Economics (Agricultural Economics Office) stated that the outlook for the agricultural economy for the whole year 2023 is expected to expand in the range of 1.5 – 2.5% compared to 2022. The supporting factor that allows the agricultural sector as a whole to expand is the continuous implementation of government policies and measures. Cooperation in managing agricultural products in line with market needs Consumption demand surges Farmers manage their farms well. There are also factors of continued expansion of domestic consumption, service sectors, and tourism. As a result, there is an increase in demand for agricultural products and food.
however There are still risk factors that need to be monitored and monitored. both from the influence of the monsoon winds that cause heavy to very heavy rain in some areas The El Niño phenomenon may become more severe at the end of the year. weather variations Disease and insect outbreaks May cause damage to some agricultural products.
Among various risk factors that beset But Thailand’s food industry is still strong so that in 2023 Thailand’s share of the world food market will increase to 2.47% from 2.25% the previous year, while China and Vietnam will have their share of the world food market increase as well. with Thailand, while India, Indonesia and Malaysia have a decreasing share of the world food market. From measures to restrict the export of many agricultural and food products to increase internal food security. Thailand is currently the 12th-ranked food exporting country in the world, improving 3 places from 15th in the world.
Thailand’s food superpower is emerging as an important economic opportunity that will help the country move forward despite various risk factors.
2023-11-25 22:21:00
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