Food exports next year expected to rise to 793 bn

Food exports

Food exports, Photo:

Food exports in 2010 are expected to rise 7.5% or worth 793 billion THB following an increase in prices of agricultural products such as rice, fruits and sea food.

Acting Director of the National Food Institute (NFI), Amorn Ngammongkonrat forecasts Thai foods export value in 2010 at 793 billion THB, an increase of 7.5% from last year in line with the improvement in the economy and the rise of agricultural product prices. Major export products include rice, poultry, processed Tuna fish, sugar, processed fruits, cassava and related products. However, shrimp and fresh and dry fruit exports are likely to decrease at 0.8% and 11.4% respectively.

The whole export value in 2009 has been expected at 737 billion THB, down 5.2% due to the decrease in global market demand. Exporters at the same time expected low production cost as well.

Mr Amorn pointed to a concern on Thai food exports to UAE following the Dubai World problem. As of the first ten months in 2009, Thai food exports to UAE were worth 5,618 million THB, down 9.5%. Meanwhile, 42 Thai restaurants in UAE have already been affected by the Dubai financial crisis with the lower net sale of 30%. (NNT)