Thai food exports expected to grow well
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)According to Kriengkrai Thiennukul, chairman of the FTI, many countries might experience food shortages because such nations as India, Serbia, Kazakhstan, Kosovo and Egypt have restricted their exports, including wheat.
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 benefit from this situation as purchase orders increase amid growing worries over the shortages.
Thai food factories have prepared raw materials for food processing in order to meet increasing demand in the global food market, the chairman said.
The federation said it is not seriously concerned about a scarcity of raw materials in Thailand, as the country is rich in agricultural products.
Visit Limlurcha, chairman of the FTI’s Food Processing Industries Club, projected that the nation’s food exports will increase 5 percent this year to 1.1 trillion THB (about 31 billion USD)./.
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