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Thailand’s food exports are expected to touch US$31bn in 2014, a seven per cent increase from the previous year, according to Thai Chamber of Commerce
Isara Vongkusolkit, chairman of the Thai Chamber of Commerce, said, “Food shipments are predicted to total over US$31bn, a growth rate that should surpass the economy as a whole.”
China, which has seen shortfalls in its own rice production because of bad weather and industrial contamination, recently agreed to source one million tonnes of rice from Thailand to close the gap in feeding its population of over 1.35bn people.
“Food sector exports have managed better growth than other industries such as electronics and electrical appliances,” Vongkusolkit added.
Thailand is reportedly among the world’s leading suppliers of staple commodities such as rice, sugar and cassava, and also a leading provider of fresh and canned fish, shrimp, pineapple, rubber and a variety of fruits and vegetables
Meanwhile, the exports of shrimp were reduced dramatically this year because of an outbreak of early mortality syndrome (EMS). However, effective measures have been put in place to curb the spread of the disease, official sources said.
“Shrimp output and exports are expected to rebound in 2014, driving higher growth in Thai food exports.”
About 60 per cent of the country’s exports are to Asian countries. The EU and US markets account for 13 per cent each, Bangkok Post reported.