The Federation of Thai Industries (FTI) has projected that Thai food exporters are likely to benefit from a global food shortage expected to intensify during the third and fourth quarters this year.
A shop selling rice in Bangkok, Thailand. (Photo: AFP/VNA)
Bangkok (VNA) - The Federation of Thai Industries (FTI) hasprojected that Thai food exporters are likely to benefit from a global foodshortage expected to intensify during the third and fourth quarters this year.
According to Kriengkrai Thiennukul, chairman of the FTI, manycountries might experience food shortages because such nations as India,Serbia, Kazakhstan, Kosovo and Egypt have restricted their exports, includingwheat.
A shortage of fertiliser and animal feed amid the ongoing Russia-Ukraine war resulted in lower crop yields, making stockpiling of food appear to be unavoidable.
The FTI believed that the Thai food industry will benefitfrom this situation as purchase orders increase amid growing worries over theshortages.
Thai food factories have prepared raw materials for foodprocessing in order to meet increasing demand in the global food market, thechairman said.
The federation said it is not seriously concerned about ascarcity of raw materials in Thailand, as the country is rich in agriculturalproducts.
Visit Limlurcha, chairman of the FTI’s Food ProcessingIndustries Club, projected that the nation’s food exports will increase 5percent this year to 1.1 trillion THB (about 31 billion USD)./.
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A shop selling rice in Bangkok, Thailand. (Photo: AFP/VNA) 
