Thailand’s food exports poised for 7.1 percent growth in 2021
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. (Photo: Bangkok Post)
Bangkok (VNA) - Thailand’s food exports are forecast to recover to7.1 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 andsupervisory measures to prevent the spread of the virus and food contamination,are factors in the food export prediction, according to the Board of Trade, theNational Food Institute and the Federation of Thai Industries (FTI).
FTI president AnongPaijiprapapon said food exports tallied 980 billion THB last year, down 4.1percent from the previous year, with shipments in dollar terms equivalent to 31.3billion USD, down 5.1 percent.
Lower exports led Thailand'sshare of the world food market to drop to 2.32 percent last year from 2.49percent in 2019. Thailand's food exporter ranking in the world fell to 13thfrom 11th the year before.
According to Anong, Thailand’s food exports only grew to China, the USand Oceania, with outbound shipments to China amounting to 180 billion THB, up18.1 percent, with those to the US up 12.2 percent to 119 billion THB, andOceania up 1.7 percent to 33.1 billion THB.
Exports to other markets, particularly Africa, ASEAN, Europe, the Middle Eastand North Africa, and the United Kingdom all fell, she said.
China isThailand'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, andJapan at 12.7 percent.
Anong said apartfrom the pandemic impact, food exports last year also struggled with thestubborn baht strength, a container shortage and higher transport costs./.
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The anticipated rise in farm and food prices, especially for chicken, sugar, tapioca products and pineapples. (Photo: Bangkok Post) 
