Thai food exports are expected to grow by 14% this year, boosted by higher shipments of shrimp and processed chicken, according to the Bangkok Post newspaper.
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The figure came from deputy commerce minister Suriya Larpwisuthisin who put Thailand’s food exports at about US$10.16bn this year.
Suriya said the strong growth in the food export industry would help Thailand achieve its target for total exports to grow 20% this year to $117bn. He added that trade officials had been directed to work toward increased shipments of Thai fruit, particularly in China.
Currently, Japan is Thailand’s largest food export market, accounting for 19.11% of total shipments, with the United States next at 17.18%, Malaysia at 3.68%, the United Kingdom at 3.67%, Hong Kong at 3.31%, and other markets the rest.
For the first quarter of this year, Thailand’s food exports were valued at $2.439 bn, up 8.64% year-on-year. Among the key food export products are rice, shrimp, canned tuna and canned pineapples.
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By GlobalData
